The Russian government has taken steps to regulate the country's cryptocurrency market, introducing a package of bills designed to place digital assets under strict state control.
As part of these new regulations, ordinary Russians will be permitted to acquire up to 300,000 rubles' worth of crypto a year through a single intermediary. This annual threshold is significantly lower than the current exchange rate with the dollar and has been fixed in legal writing for the first time.
The rules also require non-professional investors to undergo testing to determine their awareness of the risks associated with cryptocurrency investments. Those who pass will be allowed to buy only the most liquid cryptocurrencies, whitelisted by the Bank of Russia.