The Bank of Russia has put forward a draft policy that would widen retail access to crypto — but under strict conditions. What the proposal would do - Both “qualified” and “non-qualified” investors would be allowed to buy most cryptocurrencies, though access and limits differ by category. - Non‑qualified investors: allowed to buy a still-to-be‑specified list of liquid crypto assets after passing a knowledge test, and capped at 300,000 rubles per year (about $3,834). - Qualified investors: would get broad market access (privacy coins excluded) after passing a knowledge test. - Russian residents could buy crypto on foreign platforms, pay with foreign accounts and move the resulting assets through Russian intermediaries — but those transactions would have to be reported to the tax service. Background and context - The move follows comments by the central bank’s first deputy governor, Vladimir Chistyukhin, who recently signaled a potential easing of crypto rules, including removing the strict “super‑qualified investor” threshold for actual-delivery trading. - The “super‑qualified investor” category was introduced in late April when the finance ministry and central bank launched a crypto exchange; it targets very wealthy people (over 100 million rubles in assets — about $1.3 million — or at least 50 million rubles annual income). - The central bank reiterated that it still regards cryptocurrencies as a “high‑risk instrument.” While stablecoins and cryptocurrencies are recognized as monetary assets that can be bought and sold, they remain banned for domestic payments under a 2020 law passed by the State Duma. Market structure and regulation - Under the proposal, crypto trades would be routed via exchanges, brokers and trustees operating under their existing licenses. - Specialized depositories and exchanges that handle cryptocurrencies would face separate regulatory requirements. Why it matters If adopted, the proposal could broaden retail participation in Russia’s crypto markets while maintaining tight consumer safeguards and oversight (knowledge tests, limits, tax reporting). It also signals the central bank’s willingness to formalize channels for foreign-platform activity, even as it stresses the high risk of crypto and keeps payment bans in place. Note: this is a regulator proposal, not a finalized law — details such as the exact list of permitted liquid assets for non‑qualified investors will still need to be defined. Read more AI-generated news on: undefined/news