Russia will allow non-qualified investors to purchase digital assets with a maximum value of RUB 600,000 (~ $ 7,700)
The Bank of Russia has issued today a new proposal for a directive on digital assets, which sets the conditions for qualified and non-qualified investors.
Russia still does not seem to have the final regulatory framework for digital assets, and just today The Central Bank of the Russian Federation has issued a new 5-page proposal for a directive on digital assets.
Probably the most important changes are the addition of conditions that must be followed by qualified and non-qualified investors.
If you are non-qualified investor, by law you can buy in one year digital assets with a maximum value of RUB 600,000 (~ $ 7,700).
To become a qualified investor, you must meet clear criteria:
- Work experience in a financial organization (min. 2 years)
- You must have a degree in economics
- Net worth of at least RUB 6 million (~ $ 74,400)
- Own securities with a minimum value of RUB 6 million (~ $ 74,400)
The public can comment on this proposal until 27 October.
This proposal for a directive will complement the law, which Vladimir Putin signed this summer and is entering into force on 1 January 2021. Among the most important findings of the law is the regulation that although you can use digital assets in transactions, you cannot pay for goods or services in the Russian Federation.
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