The Bank of Russia says financial institutions can offer crypto instruments to qualified investors
The Bank of Russia said financial institutions can offer crypto instruments to qualified investors as the country continues to explore crypto offerings.
“Financial institutions can offer Qualified investors in financial derivatives, security, and digital assets financially that the yields are linked to cryptocurrency prices, “the Russian bank told A A Post on Wednesday.
Russia softens its stance in the crypto of the latter as the owner continues to see new highs. Although the Central Bank warned institutions and their clients against investment directly in crypto, it suggested to allow a limited group of qualified investors to trade crypto in an experimental regime That will last for three years – something it says that the government is still considered.
The country’s financial ministry is set to open a crypto exchange for highly qualified investors According to reportsBut no deadline has been indicated as the discussions continue.
However, in the Wednesday post, the Central Bank also encouraged credit institutions to be careful when considering the risks of these instruments, ensuring that they were fully covered by capital and individual limitations set to them.
“During the year, the Bank of Russia plans to formalin the conservative approach to regulation of the risks of credit institutions associated with the changing -change in cryptocurrency prices,” the Post said.
