The Central Bank of Russia has made a significant relaxation in the regulations for financial products linked to cryptocurrencies.
With the new regulation, only qualified investors will be allowed access to derivatives and securities based on the price movements of crypto assets. However, access will be limited to non-deliverable products where investors cannot directly own cryptocurrencies, but can only benefit from price fluctuations. This step shows that Russia is taking a more cautious but open approach to the digital asset market.
The Central Bank has warned financial institutions to be cautious, noting the risks that such financial products may pose. While institutions were asked to ensure capital adequacy and set individual risk limits, it was stated that a more comprehensive guide on the subject will be published within the year. It was also stated that joint efforts are underway with the Ministry of Finance to create a special crypto exchange for a limited investor audience.
