The Central Bank’s statement says that the regulator’s decision is aimed at developing the financial market of Russia and provides qualified investors with the opportunity to diversify portfolios through tools related to the yield of cryptocurrencies while maintaining strict supervision and control.
In order to restrict and cover the risks of credit organizations carrying out operations with digital currencies, the Bank of Russia Recommends It is conservative to evaluate the risks of such tools, as well as establish a separate limit for them and provide for their full coating with their own capital. At the same time, crypto -investment products should be delivered in a form that does not involve direct possession of digital assets and repayment in kind.
Access to new financial instruments will be limited by investors that meet qualification criteria: management of portfolio assets worth more than $ 1.1 million (100 million rubles) or an annual income of more than $ 550,000 (50 million rubles).
Earlier, Russian T-Bank issued digital financial assets (CFA) for qualified investors, tied to the price of the first cryptocurrency. One Tsfa corresponds to 0.001 bitcoin.
Source: Bits
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