The RF Minfin has developed a digital currency draft law

The Ministry of Finance of Russia has developed and sent to the government for approval a bill regulating the cryptocurrency market. The document is posted on the official website of the Ministry of Finance. It provides an opportunity for private investors who have successfully passed the relevant testing to invest annually in cryptocurrencies for no more than 600 thousand rubles. Investors who have not passed the test can also purchase cryptocurrencies, but for no more than 50 thousand rubles. The cryptocurrency transactions volume for highly qualified investors and legal entities will not have any restrictions. According to the draft law, the use of digital currencies as a means of making payments will be prohibited. Cryptocurrencies in Russia will have the status of an investment instrument. Operations related to the purchase and sale of digital currencies will be able to be carried out only by identified bank customers. Cryptocurrency exchanges will be required to warn customers about the high risks of dealing with cryptocurrencies.


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Arseny Kudrin

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