Russian Central Bank Governor Elvira Nabiullina said bill No. 1194918-8 draws a distinction between qualified and non-qualified investors as part of a standard regulatory framework, not a rule designed only for crypto. She said non-qualified investors face tighter limits because the government uses legislation to shield them from risks they may not fully understand. In the crypto market, she cited volatility and the risk that foreign-held digital assets linked to Russia could be seized.
Under the bill, which is expected to take effect on Sept. 1 alongside the rollout of the digital ruble, non-qualified investors would be limited to 300,000 rubles, or about $3,800, in crypto purchases. Qualified investors would be allowed a limit 10 times higher. Nabiullina also said Russia’s crypto ecosystem remains open, with no restrictions on repatriating digital assets or transferring them abroad. At the same time, she warned that once investors receive such assets outside Russia, they would no longer be protected under Russian law and would need to resolve disputes in foreign jurisdictions.
Odaily reported that Russian Central Bank Governor Elvira Nabiullina said bill No. 1194918-8 distinguishes between qualified and non-qualified investors, and that this structure is not limited to cryptocurrencies but reflects a common regulatory approach.
Nabiullina said non-qualified investors are allowed to participate in a narrower range of products because the government uses legislation to protect them from taking on risks they do not understand. She said those measures also apply to the crypto ecosystem because of market volatility and because digital assets held abroad could be seized if they are linked to Russia.
Bill expected to take effect on Sept. 1
According to Nabiullina, bill No. 1194918-8 is expected to take effect on Sept. 1 and will be implemented in parallel with the launch of the digital ruble. The bill sets a purchase limit of 300,000 rubles, or about $3,800, for non-qualified investors buying cryptocurrencies. For qualified investors, the ceiling would be 10 times higher.
Assets received abroad would fall outside Russian legal protection
Nabiullina also said Russia’s crypto ecosystem remains open, and there are no restrictions on repatriating digital assets or transferring them overseas. She added that once investors receive those assets abroad, they will no longer be protected by Russian law. If problems arise, disputes would need to be handled in foreign jurisdictions.
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