Russia could curb non-qualified investors’ exposure to crypto assets

In the State Duma, lawmakers will consider legislatively restricting investments in crypto assets by non-qualified investors. This was stated by the head of the Financial Market Committee, Anatoly Aksakov, according to Interfax.

In his words, this would help protect private investors, as cryptocurrencies for them are “a fairly complex instrument”.

“Digital assets are a topic of our close attention, and here we will look to protect our citizens as much as possible when investing in digital currencies,” said Aksakov.

The official noted that cryptocurrencies are associated with high risk, but also high returns.

“We need, of course, to enshrine in law the norms that would shield an unqualified investor from ill-considered investments in digital currencies,” said Aksakov.

Earlier the head of the Financial Market Committee stated, that Bitcoin cannot be legalized due to its volatility, and also proposed registering mining as a form of entrepreneurial activity.

In September the Central Bank of Russia opposed allowing non-qualified investors access to cryptocurrencies.

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