Anatoly Aksakov proposed to limit investments of unqualified investors in crypto assets

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Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, proposed limiting unqualified investors in working with digital assets in order to protect them from risks.

data agency “Interfax”, this issue was discussed at the International Conference on the Protection of the Rights of Consumers of Financial Services. Aksakov said that the state pays close attention to digital assets, since they are a relatively new tool, with which private investors may have difficulties.

Aksakov noted that investments in cryptocurrencies can bring great profits, but at the same time they also imply serious risks. Therefore, Aksakov proposed to introduce provisions into Russian legislation that would limit the investment of unqualified investors in cryptocurrencies.

The founder of the Alor Group of Companies Anatoly Gavrilenko believes that when drafting legislation, it is important not to overdo it and not impose too strict restrictions on investors. He explained that initially, cryptocurrencies were created to achieve financial freedom. If regulators start pushing users against the wall, they will always find a way to get around the bans.

Alexander Abramov, head of the laboratory for analysis of institutions and financial markets at the Institute for Applied Economic Research (IPEI), RANEPA, added that Western countries have begun to be more loyal to cryptocurrencies. According to Abramov, now about 14% of American financial consultants recommend that people invest up to 2% of their investment portfolio in cryptocurrencies. The expert believes that private cryptocurrencies can become serious competitors to digital currencies of central banks. Economist Andrei Nechaev, also involved in the discussion, believes that it is for this reason that central banks are wary of cryptocurrencies.

In July, the Bank of Russia recommended that Russian exchanges not allow securities payments for which depend on the rate of cryptoassets from trading, as the regulator is concerned about the high volatility of cryptocurrencies.

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