Ordinary Russians to Take Part in Cryptocurrency Trading Tests
Small investors may be allowed to test cryptocurrency trading in Russia in order to expand the circle of test participants.
This year, the Central Bank of the Russian Federation came up with an initiative to open a platform for the purchase and sale of digital assets under an experimental legal regime that will be in effect for three years. The institution’s employees planned to allow transactions to be made by so-called super-qualified investors who own securities and fiat currency on deposits in excess of ₽100 million and who have earned more than ₽50 million over the past year.
However, the Ministry of Finance proposed to lower the requirements for test participants, because if the criteria outlined by the Bank of Russia are met, “the most sensitive part of the population” will be left out of the experiments, as Alexei Yakovlev, director of the Ministry of Finance’s financial policy department, put it.
In other words, the vast majority of Russians will not be able to access the tests. Accordingly, the minimum amount of capital investment and income for candidates is planned to be reduced, but it is not yet known to what level it will be reduced and when the experiments will be launched.
Alexey Yakovlev
Based on the results of testing digital asset trading, the Russian government is going to draw up a set of permanent measures to regulate the purchase and sale of coins and tokens. The Bank of Russia treats cryptocurrency trading as high-risk transactions, so it is obvious that the agency’s employees will try to limit this activity as much as possible. Judging by the information received earlier, the legislation on virtual currencies they will start to tighten up already next year.
