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Russia is ready to abandon the requirement for cryptocurrency investors to have "high qualifications".
BlockBeats News, November 26th. According to Cryptopolitan, Ivan Chebeskov, Deputy Minister of Finance of Russia, revealed that the Russian Ministry of Finance and the Central Bank are planning to abolish strict regulations that currently only allow "highly qualified" investors to participate in the cryptocurrency market. They intend to establish a layered access mechanism to expand the range of legitimate investors. Current regulations require individual investors to hold at least 100 million rubles in bank deposits and securities, and to demonstrate income of over 50 million rubles in the past year to obtain "highly qualified" certification. Chebeskov stated that regulators have reached a basic consensus on easing restrictions and will set differentiated access standards for non-qualified, qualified, and highly qualified investors in the future.
Although the country's central bank still opposes the free circulation of cryptocurrency within its borders, it has gradually relaxed its policies this year: in March, it proposed allowing the use of cryptocurrency for cross-border settlements under an "experimental legal regime," and in May, it approved the opening of cryptocurrency derivatives to highly qualified investors.
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