The Bank of Russia said it will introduce a new domestic testing route that allows individuals to obtain qualified investor status by passing a financial knowledge test, with the rule taking effect on Aug. 31. Investors who receive that status will be allowed to buy up to 10 times more cryptocurrency than ordinary investors. The central bank also said applicants will be able to submit domestic certificates issued by the National Finance Association or the Moscow Exchange, removing the need to rely on international credentials such as the Chartered Financial Analyst, or CFA, designation. Deputy Governor Mikhail Mamuta said the change is meant to make access to the qualification "more accessible and more prudent," while stressing that the knowledge level of investors matters more than their number.
The Bank of Russia said it will add a new domestic testing channel that lets individuals obtain qualified investor status by passing a financial knowledge test. The new rule will take effect on Aug. 31.
Under the change, investors who obtain that status will be allowed to buy cryptocurrency up to 10 times the limit set for ordinary investors.
The central bank said applicants may also submit domestic certificates issued by the National Finance Association or the Moscow Exchange, rather than relying on international qualifications such as CFA credentials. Deputy Governor Mikhail Mamuta said the move is intended to make the qualification "more accessible and more prudent," adding that the knowledge level of investors is more important than their number.
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