Russian Finance Ministry amends bill 'On digital currency'Russia Finance Ministry has amended a bill intended to implement comprehensive rules for the Russian crypto sector.
The Finance Ministry proposed to replace the concept of a 'qualified investor’ in the draft bill with a 'professional purchaser' of digital currency. The ministry considers as a professional purchaser an individual recognized as such by a digital trading platform operator or a digital currency exchange operator.
Citizens are assumed to be tested before purchasing crypto. Upon successful completion, they will be able to invest up to 600 thousand rubles ($8,450) in crypto per year. Otherwise, the maximum amount will be limited to 50,000 rubles ($700). However, professional purchasers will be able to transact without restrictions.
The bill has been resubmitted to the government and may be adopted during the parliament’s spring session. If passed, the bill will enter into force on January 1, 2023.
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