The Central Bank of Russia has expanded the requirements for foreign digital rights (FDR) entering the market. The update aims to protect investors from risks associated with acquiring these instruments.
From August 2024, such assets may circulate in the country alongside Russian DFA.
The regulator’s directive sets additional criteria for FDR:
- they must not be linked to securities of issuers from unfriendly countries;
- the instruments must not satisfy rights to receive cryptocurrency or FDR not admitted for circulation in Russia;
- issuance conditions must not indicate potential blocking by issuers, payment agents, and controlling entities;
- the list of countries where FDR requirements can be fulfilled must include at least one friendly nation;
- disputes regarding digital instruments must not be considered in unfriendly jurisdictions.
The central bank noted that only legal entities classified as qualified investors will be able to purchase FDR.
The Central Bank’s decree will come into effect on May 26, 2025.
Earlier, Russian authorities announced the launch of a cryptocurrency exchange aimed at super-qualified investors.