The Bank of Russia is considering changing the rules for cryptocurrency circulation in the country. The regulator may abandon strict requirements for super-qualified investors. It is planned to reach an agreement with the Ministry of Finance by the end of the year, according to Vladimir Chistyukhin, First Deputy Chairman of the Central Bank.
We are discussing the feasibility of using "super-qualified" in the new regulation of crypto assets.
Currently, there is no such concept as a "super-qualified investor" in Russian legislation. It is proposed to grant this status to investors with experience in using particularly complex financial instruments, including cryptocurrencies, within the framework of an experimental legal regime. They must invest more than 100 million rubles in securities and deposits or have income for the past year exceeding 50 million rubles.
The Central Bank believes it is possible to weaken control over the cryptocurrency market and go beyond the narrow category of investors. The proposal is becoming especially relevant in light of restrictions for individuals and companies on the use of ordinary currencies for international settlements.
