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Russia Plans to Ban Non-Professional Investors from Purchasing Foreign Stablecoins
Svmuu News: The final version of the Russian government’s cryptocurrency regulation bill includes new restrictions, proposing to prohibit non-professional investors from purchasing foreign stablecoins—a category that encompasses the vast majority of the country’s residents. The bill introduces two new concepts: “foreign digital instruments” and “non-deliverable foreign digital instruments,” with collateralized stablecoins falling under the latter category. Qualified investors may purchase foreign digital instruments, while non-qualified investors may only purchase specific assets listed on a special Central Bank roster. The Bank of Russia proposed a draft regulatory framework for stablecoins in late June, requiring all transactions to take place under state control and to be completed through exchanges or authorized exchange points. Central Bank Governor Elvira Nabiullina previously expressed caution regarding foreign stablecoins, noting that their issuers could freeze assets in users’ wallets.
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