Russian banks begin drafting new crypto regulatory plan, set to ease investor qualification requirements
BlockBeats News, December 23, according to Bloomberg, Russian banks are drafting new cryptocurrency regulatory plans, which may allow previously ineligible investors to purchase crypto assets.
Previously, on November 26, Russian Deputy Finance Minister Ivan Chebeskov revealed that the Ministry of Finance and the Central Bank are planning to lift 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 legal investors. The current regulations require individual investors to have at least 100 millions rubles in bank deposits and securities, and to have verifiable income of more than 50 millions rubles in the past year to obtain "highly qualified" certification.
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