Russia's Central Bank Moves Towards Legalizing Crypto for Qualified Investors
The Bank of Russia is considering allowing a specific group of qualified investors to trade cryptocurrencies as part of its plans to explore cross-border crypto transactions. The central bank is discussing legislative changes to create a new category of "particularly qualified investors" who would be permitted to buy and sell digital currencies.
In an interview with the Russian newspaper Izvestia, Alexey Guznov, the state secretary and deputy governor of the Bank of Russia, mentioned that while this move is under consideration, all potential risks need to be thoroughly assessed before implementation. The central bank is also open to the use of stablecoins for international trade, provided they meet certain criteria.
In addition to these developments, Russia is reportedly exploring the establishment of at least two domestic crypto exchanges. These exchanges might use the existing infrastructure of stock exchanges in Moscow and Saint Petersburg, with a focus on developing stablecoins, including those tied to the Chinese yuan and a basket of BRICS currencies.
