The Bank of Russia has released a draft directive defining the features of digital financial assets (DFAs) that may be acquired by qualified and non-qualified investors.
Under the document, individuals and sole proprietors who are not qualified investors will be able to buy DFAs up to 600,000 rubles per year.
Without the involvement of professional market participants, individuals will be able to invest in DFAs that confer monetary claims, as well as rights to participate in the capital of private joint-stock companies.
Qualified investors and corporate entities will be able to invest in DFAs issued in information systems organised in accordance with foreign law.
Public consultation on the draft directive will run until 27 October. It is expected to come into force on 1 January 2021.
Earlier, the Bank of Russia presented a report on the issuance of the digital ruble.
Earlier this year, the State Duma passed the law ‘On DFAs’. It also touches on cryptocurrency regulation, but its final form will be written in a separate document or amendments to the legislation.
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