Russia Permits Financial Institutions to Provide Crypto-Linked Instruments for Qualified Investors
The Bank of Russia announced that financial institutions can offer crypto-linked instruments to qualified investors as part of ongoing explorations into cryptocurrency.
- Institutions may provide financial derivatives, securities, and digital financial assets linked to cryptocurrency prices.
- Russia's stance on crypto has softened; however, direct investments in cryptocurrencies are still cautioned against.
- A proposed experimental regime for limited trading by qualified investors is under consideration, lasting three years.
- The finance ministry plans to establish a crypto exchange for highly qualified investors, with no specific deadline set.
- The central bank advised caution regarding risks, ensuring institutions have adequate capital coverage and individual limits.
- A formal regulation approach for credit institutions’ risks related to cryptocurrency price fluctuations is planned for this year.