Russia prepares to abandon "high qualification" requirements for cryptocurrency investors

BlockBeats News, November 26, according to Cryptopolitan, Russian Deputy Finance Minister Ivan Chebeskov revealed that the Russian Ministry of Finance and the Central Bank are planning to abolish the current strict regulations that only allow "highly qualified" investors to participate in the cryptocurrency market, and intend to establish a tiered access mechanism to expand the range of legitimate investors. The current regulations require individual investors to hold at least 100 millions rubles in bank deposits and securities, and to have verifiable income exceeding 50 millions rubles in the past year to obtain "highly qualified" certification. Chebeskov stated that regulators have reached a basic consensus on relaxing these restrictions, and in the future, differentiated access standards will be set for non-qualified, qualified, and highly qualified investors.

Although the country’s central bank still opposes the free circulation of cryptocurrencies domestically, it has gradually relaxed its policies this year: in March, it proposed allowing the use of cryptocurrencies for cross-border settlements under an "experimental legal regime," and in May, it approved opening crypto derivatives to highly qualified investors.