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Russia's Ministry of Finance proposes to allow limited cryptocurrency trading for certain qualified investors

Russia's Ministry of Finance proposes to allow limited cryptocurrency trading for certain qualified investors

CointimeCointime2024/07/12 10:19
By:Cointime

The Russian Ministry of Finance proposed allowing a limited number of "specific qualified" investors to trade cryptocurrencies on exchanges. The ministry's drafted response was aimed at two proposed laws that seek to regulate cryptocurrency mining and digital currency settlements within an experimental legal framework. Specifically, the ministry suggested allowing all foreign economic activity (FEA) participants to settle transactions using digital assets in accordance with general regulations, which means recognizing digital assets as having monetary value. As an experimental measure, the ministry further proposed only allowing cryptocurrency trading on exchanges and platforms listed in the official registry, and treating cryptocurrencies as commodities. However, the document did not specify the criteria for classifying these investors.

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