All news

Regulator does not recommend financial entities to invest directly in cryptocurrencies

The Bank of Russia said the proposals on the launch of experimental mode are being approved by the government

MOSCOW, May 28. /TASS/. The Bank of Russia still does not recommend financial organizations and their clients to invest directly in cryptocurrencies. That said, the regulator has authorized offering to qualified investors of derivative financial instruments, securities, and digital financial assets, with their profitability pegged to the value of cryptocurrency, the Central Bank said in a statement.

"Financial organizations may offer to qualified investors derivative financial instruments, securities, and digital financial assets, with their profitability pegged to the value of cryptocurrency. The key condition is that such instruments should not suggest virtual supply of cryptocurrencies. The Bank of Russia still does not recommend to financial organizations and their clients to invest directly in cryptocurrencies," the statement reads.

"The Bank of Russia’s proposals on the launch of experimental mode, where transactions with cryptocurrencies could be only carried out by certain categories of investors, are being approved by the government," the regulator added.