The Russian government is working on a new regulation on the purchase and sale of digital assets. However, this regulation will only be open to certain investor groups in the first place and will not allow a wide range of access.
Russia is starting a new trial process in digital assets
The Russian Ministry of Finance and the Central Bank constitute a new legal framework to regulate the digital asset market in the country. Alexey Yakovlev, President of the Financial Policy Department of the Ministry of Finance, said that the regulation will be implemented in the format of a “experimental legal regime” format.
This new regulation aims to make Russian investors more easily accessible to digital assets. Currently, it is possible to use and store digital assets in Russia, while it is forbidden to use in local payments. According to Yakovlev, the use of digital currencies in the domestic market requires a much more detailed arrangement, although the framework developed for international transactions.
Only senior investors will be included
The new regulation will cover a group that is defined as “super -qualified investors .. This new investor category is not yet clear, but the government wants to make sure that these people can make transactions without damaging the financial system.
In recent years, Russia has taken various steps to increase the use of digital assets in international transactions. While the BRICS is carrying out cross -border payment systems development projects with its countries, Russia also attaches great importance to Bitcoin mining. However, since there is no official licensing framework for crypto exchanges in the country, Russian investors often turn to foreign platforms.
US and Europe targeted the Russian crypto exchange
Garantex, one of Russia’s largest digital asset exchanges, was closed by authorities in the United States and Europe. The US government confiscated the servers and databases of the platform, claiming that the stock market was used for illegal financial transactions. The US Department of Justice is preparing to trial for two people allegedly to be Garantex’s executives on charges of money laundering. These people are sentenced to up to 20 years of imprisonment.
Before the intervention in the stock market, it was learned that Tether blocked the Garantex wallets and froze more than 28 million dollars USDT. This development caused the stock market to suspend its activities. Garantex officials said in a statement on Telegram, “Tether waged war on the Russian crypto market”He said.
