The Central Bank has sent proposals to the government to regulate investments in cryptocurrencies

The Central Bank of Russia, in accordance with the instructions of President Vladimir Putin, has sent proposals to the government to regulate investments in cryptocurrencies. This was announced on March 12 by the press service of the regulator.

According to the Central Bank, it is proposed to allow some investors from Russia to purchase and sell cryptocurrencies. For implementation, it is planned to establish a special experimental legal regime (EPR) for three years.

It is noted that "highly qualified" investors will be able to make transactions. This status will be available to Russians whose investments in securities and deposits exceed 100 million rubles with an income of more than 50 million rubles over the past year.

"The introduction of the EPR is aimed at increasing the transparency of the cryptocurrency market, forming standards for the provision of services on it, and expanding investment opportunities for experienced investors who are ready to take on increased risks," the publication says on the website.

Since the Bank of Russia does not consider cryptocurrency as a means of payment, it is proposed to prohibit settlement between residents on transactions with cryptocurrency outside the EPR and establish responsibility for the violation.

In addition, it is planned to allow qualified investors to invest money in settlement derivatives of financial instruments, securities that do not provide for the supply of cryptocurrencies to investors. At the same time, profitability should be linked to cost.

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