The Bank of Russia has proposed a notable change in its approach to cryptocurrency regulation. For the first time, the central bank wants to allow non-qualified, or retail, investors to buy certain digital assets. However, the plan includes strict rules aimed at limiting risk and protecting inexperienced buyers.
The proposal has already been sent to the Russian government for review and could mark a turning point for the country’s crypto market.
How the New Rules Could Work
Under the draft framework, both qualified and non-qualified investors would gain access to cryptocurrencies, but with different conditions. Retail investors would face tighter controls and smaller limits.
Key features for non-qualified investors include:
- Access only to a limited list of highly liquid cryptocurrencies
- A mandatory knowledge or suitability test before trading
- Annual purchase caps, which could be set near 300,000 rubles, or about $3,800
These measures aim to reduce impulsive investing. For example, a first-time buyer would need to show basic crypto knowledge before making a purchase.
More Freedom for Qualified Investors
Qualified investors, who usually have higher income or market experience, would enjoy broader access. However, the central bank still plans to apply some boundaries. Certain high-risk or privacy-focused coins may remain restricted.
Furthermore, all crypto trading and storage would go through licensed intermediaries. These include exchanges, brokers, and trustees that operate under strict oversight. Therefore, the Bank of Russia hopes to keep tighter control over market activity.
For years, the central bank has warned against widespread crypto use. It has consistently argued that digital assets carry high volatility and should not serve as legal payment tools. However, this proposal shows a softer tone.
Supporters believe controlled access could boost participation without threatening financial stability. Critics, however, argue that even popular cryptocurrencies remain risky for casual investors. The proposal will likely see revisions before lawmakers move forward.
