Is Putin Bitcoin’s new best friend? Russian Central Bank approves Bitcoin trading for Russian elite. Is BTC Bull token (BTCBULL) best play?
The Russian Central Bank has proposed new regulations allowing high-net-worth individuals to buy and sell digital assets during a three-year testing period.
The central bank made the announcement directly in an official statement sent out on Wednesday (March 13).
🚨🇷🇺 RUSSIAN CENTRAL BANK TO ALLOW LIMITED #BITCOIN PURCHASES FOR SELECTED INVESTORS pic.twitter.com/f0rVCPj3x5
— Giannis Andreou (@gandreou007) March 13, 2025
Russian Central Bank Offers Multiple Routes To Qualify For High Net-Worth Russians
Russia’s central bank said that it would allow ‘particularly qualified’ investors, who have investments in stocks and deposits exceeding 100 million rubles (roughly $11.5 million).
Another route to eligibility is for individuals with income of more than 50 million rubles (approximately $5.7 million) over the past 12 months.
The regulations put forward will also allow institutions that are qualified investors to “become participants in the experiment,” adding that it would “establish regulatory requirements taking into account the level and nature of risks of such an asset.”
In the statement from the Russia’s central bank, a spokesperson said; “The introduction of the EPR is aimed at increasing the transparency of the cryptocurrency market, forming standards for the provision of services, expanding investment opportunities for experienced investors who are ready to take on increased risks.”
The central bank still cautions Russians to proceed cautiously when investing in crypto. The statement says that due to its “extreme volatility, when deciding to invest in cryptocurrencies, investors should realise that they take a risk of losing their money”.
(@0xfrigg)
U-Turn From Putin After Banning Digital Assets In 2022
Back in 2022, Russian President Vladimir Putin signed a law banning the use of digital assets for payments. In the 2022 announcement, the bank said that cryptocurrencies were still not allowed in the country as a form of payment.
At that time, the Russian central bank noted that cryptocurrencies were “not guaranteed by any jurisdictions” and were “subject to increased volatility.”
However, the country has become more open to the emerging sector, especially since its war with Ukraine began in 2022. Last year, Russian lawmakers voted to legalize the use of digital assets for international payments.
Russia has begun using cryptocurrency to evade ongoing US and European sanctions imposed on them after the country’s unprovoked invasion of Ukraine. The EU and US both claim that Russia’s invasion broke international law, resulting in the hefty sanctions.
In early 2024, President Vladimir Putin took one step further in his push to become a more crypto-friendly nation by signing a law allowing cryptocurrency mining within Russia.
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Russia puts forward regulations allowing high net-worth individuals to buy crypto
- Russians with $11.5m in stocks or annual income over $5.7m can buy and sell crypto for the first time
- Institutions that qualify can also take part in the experiment
- Move from the Russian central bank comes after Putin previously outlawed crypto
- Russia has been more open to crypto since its invasion of Ukraine resulted in global economic sanctions
- BTC Bull (BTCBULL) presale crosses $3.5m in funding as investors seek to secure cheap bags for upcoming Bitcoin airdrops
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