Central Bank of Russia Plans on Limiting Cryptocurrency Trading

[Goodcat49]

Russia’s Central Bank plans to put a yearly limit on so-called “unqualified investors” who are willing and able to buy cryptocurrency, as reported by RBC – a local business news outlet. The bank wants to impose new regulations on digital currency.

The central bank wants to change the existing draft digital currency bill, known as ‘On Digital Financial Assets,’ that passed the second reading in parliament - State Duma.

It also recommends to equate investor limits to those ones in a draft bill on crowdfunding, that is also under a thorough review by the Russian members of parliament. According to Anatoly Aksakov, the head of the State Duma’s committee on financial markets, the threshold will probably be set at approx. 600 thousand rubles which is around $9,100 annually and it will be exactly the same as the annual investment cap for crowdfunding projects.

If the legislators legally pass the bill containing the bank’s current recommendations, so-called unqualified investors will still be in a position to buy cryptos which were issued in Russia, according to the report. In addition, crypto investors will be enabled to trade (sell and/or buy) such coins without third parties.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/russia-limiting-cryptocurrency/