Central Bank of Russia Governor: The cap on cryptocurrency purchases by non-qualified investors is intended to protect investors

According to Odaily, Bank of Russia Governor Elvira Nabiullina stated that Bill No. 1194918-8 differentiates between qualified and non-qualified investors, and this distinction is not limited to the cryptocurrency sector, but is a common regulatory practice.

Elvira Nabiullina explained that non-qualified investors have access to fewer investment avenues, as the government protects them through legislation from assuming risks they may not understand. She pointed out that these measures also extend to the crypto ecosystem, citing factors such as crypto market volatility and the risk of foreign digital assets being seized due to connections with Russia.

Bill No. 1194918-8 is expected to take effect on September 1, coinciding with the rollout of the digital ruble. The bill stipulates that non-qualified investors will have a cryptocurrency purchase limit of 300,000 rubles, around $3,800, while the limit for qualified investors will be ten times higher.

Elvira Nabiullina said that the Russian crypto ecosystem remains open, and the repatriation and transfer of digital assets abroad are unrestricted. She stated that investors who receive related assets abroad will not be protected by Russian law, and in case of issues, they will need to resolve them within foreign jurisdictions.