The Central Bank of the Russian Federation reportedly has issued a proposal that if approved, qualified entities will be able to trade crypto assets.
In a statement, the central bank proposes a three-year experiment in which wealthy investors and certain companies have green lights to buy and sell crypto assets. Report Reuters.
The Russian Central Bank says the experiment is designed to increase transparency in crypto transactions, but warns that participants could lose money dabbling into digital assets.
“This is a new status that citizens will receive if their investments in securities and deposits exceed 100 million rubles ($1.15 million) or if their income over the past year exceeds 50 million rubles ($575,000).”
In July 2020, Russia enacted a law prohibiting the use of cryptocurrencies such as Bitcoin (BTC) to purchase goods and services within the country. However, the European giant appears to be tempering its stance on digital assets after the US and its allies imposed crippling sanctions against Russia for the war in Ukraine.
In September, the country passed a bill that would allow entrepreneurs to register corporations and mine digital assets. It also released a report last year that Russia would attempt to use the National Payment Card System (NSPK) to trade Rubles and Crypto Assets when testing payment and exchange platforms.
The NSPK was created in 2014 and is entirely owned by the Russian Central Bank, but was placed under sanctions by the US Treasury in February 2024.
follow me x, Facebook and telegram
Don't Miss Beats – Subscribe to get email alerts delivered directly to your inbox
Check out the price action
Surfing the daily HODL mix
 
Disclaimer: Opinions expressed in daily HODL are not investment advice. Investors should do due diligence before making a risky investment in Bitcoin, cryptocurrency or digital assets. Please advise that your transfers and transactions are your own responsibility and that any losses you may incur is your responsibility. Daily Hodl does not recommend buying and selling cryptocurrency or digital assets, and Daily Hodl is not an investment advisor. Please note that your daily HODL participates in affiliate marketing.
Generated Image: Midjourney
