The economist spoke about proposals to regulate investments in cryptocurrencies

Proposals to regulate investments in cryptocurrencies can both protect the majority of investors and limit their opportunities. Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at GUU, shared this opinion in an interview with Izvestia on March 11.

"On the one hand, this will protect the vast majority of investors from risky cryptocurrency transactions. Along with this initiative, it is proposed to introduce a ban on settlements on transactions with cryptocurrency outside the experimental legal regime. That is, in fact, this is a permit for a very limited number of investors, especially qualified ones, whose investments exceed 100 million rubles or income over 50 million rubles last year," the economist said.

According to him, the initiative is aimed at limiting the overwhelming majority of citizen investors from high-risk transactions.

"For more than 90% of investors, access to buying and selling cryptocurrencies will be closed. However, investors with large assets will have more legal investment opportunities. At the same time, such investors are usually aware of the risks, and their investments in cryptocurrency will not be so large as to pose a threat to them personally," he explained.

The expert also added that such measures are consistent with international practice.

"We are following the path of developed countries that understand that cryptocurrencies should be regulated. Restrictions should be introduced, but regulation should also be created for those who want to invest in such instruments in order to minimize their risks," Chirkov concluded.

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Earlier in the day, the Central Bank of Russia, in accordance with the instructions of President Vladimir Putin, sent proposals to the government to regulate investments in cryptocurrencies. This was reported in 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.