The Central Bank of Russia plans to establish a special experimental legal system for three years, allowing a limited group to buy and sell cryptocurrencies

According to the official announcement, the Central Bank of Russia has submitted a proposal for regulating cryptocurrency investments to the government at the direction of the Russian President. The proposal suggests allowing a limited group of Russian investors to buy and sell cryptocurrencies. For this purpose, it is planned to establish a special experimental legal regime for three years.

Only "specially qualified" investors will be able to trade cryptocurrencies within this system. This is a new status, and citizens expected to obtain this status must meet conditions such as having securities and deposit investments exceeding 100 million rubles or an income last year exceeding 50 million rubles. In addition, companies that qualify under current law are suggested in the proposal for participation in the experiment. For financial institutions wishing to invest in cryptocurrencies, the Central Bank of Russia will develop regulatory requirements based on their risk level and nature. The introduction of these systems aims at increasing transparency in cryptocurrency markets, establishing service standards, and expanding investment opportunities for experienced investors willing to take higher risks.

The Central Bank of Russia has repeatedly pointed out that private cryptocurrencies are not issued or guaranteed by any jurisdiction but are based on mathematical algorithms with high volatility. Therefore, when deciding whether or not investing in cryptocurrency should be aware they may face potential capital loss risks.The central bank still does not consider cryptocurrency as payment means; therefore it proposes banning residents from using them outside this system for settlement transactions while holding those who violate accountable.In addition,it plans allow all eligible investors invest into financial derivatives ,securities,and digital assets whose returns linked value without delivering actual crypto-assets.