Governor of the Central Bank of Russia: Cryptocurrency Purchase Limits for Non-Qualified Investors Aim to Protect Them

Odaily Planet Daily News - Governor of the Central Bank of Russia, Elvira Nabiullina, stated that Bill No. 1194918-8 distinguishes between qualified and non-qualified investors. This distinction is not limited to the cryptocurrency sector but is a common regulatory arrangement. Elvira Nabiullina explained that non-qualified investors have fewer participation opportunities because the government seeks to protect them through legislation from risks they may not fully understand. She noted that these measures also apply to the crypto ecosystem due to factors such as market volatility and the possibility of foreign digital assets being seized due to connections with Russia. Bill No. 1194918-8 is expected to take effect on September 1, coinciding with the launch of the digital ruble. The bill stipulates that the cryptocurrency purchase limit for non-qualified investors is 300,000 rubles, approximately $3,800, while the limit for qualified investors is ten times higher. Elvira Nabiullina emphasized that Russia's crypto ecosystem remains open, and the repatriation and transfer of digital assets abroad are not restricted. However, she noted that investors receiving such assets abroad will not be protected under Russian law, and any issues must be resolved within foreign jurisdictions.