The Bank of Russia has proposed allowing a limited group of qualified investors to purchase and sell cryptocurrencies under a new three-year experimental legal regime.
What Happened: Announced on Wednesday in accordance with President Vladimir Putin‘s directives, the initiative targets “particularly qualified” investors—individuals with over 100 million rubles ($1.02 million) in securities and deposits or annual income exceeding 50 million rubles ($510,000)—and companies already classified as qualified investors.
This move, detailed in a submission to the Russian government, contrasts with the country’s historical reluctance to adopt Bitcoin (CRYPTO: BTC) as a reserve asset, as reaffirmed by Deputy Finance Minister …
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