Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result
Home Bitcoin News

The Ministry of Finance proposed introducing a limit on investments in cryptocurrency. What does it mean

James by James
February 16, 2022
in Bitcoin News
Reading Time: 2 mins read
A A
0
The Ministry of Finance proposed introducing a limit on investments in cryptocurrency. What does it mean
Share on FacebookShare on Twitter
ADVERTISEMENT

The department believes that the restriction on the purchase of digital assets of 50 thousand rubles for novice investors will reduce the risks of investing in this sector

The Ministry of Finance proposed to set a limit on investments in cryptocurrency for novice investors in the amount of 50 thousand rubles. The Bank of Russia responded to the ministry’s proposal, Forbes reported. The regulator believes that the restriction of 50 thousand rubles for novice crypto-investors will not remove the risks of investing in this sector, and the participation of regulated financial institutions in the circulation of digital money will create an “illusion of state protection” for people. Instead of introducing a limit, the Central Bank proposed to ban the circulation of digital assets.

On February 15, Andrey Lugovoy, First Deputy Chairman of the State Duma Committee on Security and Anti-Corruption, stated that the Russian government is not considering the option of banning cryptocurrencies in the country.

RBC-Crypto experts explained whether the Russian authorities are able to set limits on investments in cryptocurrency and what consequences this may have for Russians.

You May AlsoLike

Celsius Bankruptcy Update: Creditors Overwhelmingly Back Reorganization Plan

Celsius Bankruptcy Update: Creditors Overwhelmingly Back Reorganization Plan

September 26, 2023
Mixin Network Falls Victim to $200 Million Security Breach

Mixin Network Falls Victim to $200 Million Security Breach

September 25, 2023

“Forced Sale of Assets”
Boris Romanov, Attorney at AB S&K Vertical

The proposal of the Ministry of Finance is aimed at restricting access to the purchase of cryptocurrency by small investors-individuals. Since the topic of cryptocurrency is relevant and constantly being heard, there is an interest in buying cryptocurrency by ordinary citizens who do not constantly operate in the stock or crypto market. Such persons often acquire assets in the amount of fewer than 50 thousand rubles.

It is quite possible that exchanges or brokers officially operating in the Russian Federation, after the adoption of restrictions, will be required to forcibly sell the assets of unqualified investors in cryptocurrency at the current market value and transfer funds to such investors.

Most likely, the responsibility for violating the new rules will not apply directly to investors, but to brokers or crypto exchanges that have accounts of unqualified investors. Acceptance of such a proposal looks quite realistic. There is already experience in introducing restrictions for unqualified investors to trade in certain financial instruments on the stock market. Probably, the regulator expects that such restrictions will contribute to the stability of the market.

“50 thousand rubles is enough to try your hand at the stock exchange”
Alexander Guskov, Partner at Guskov & Associates

The idea of ​​restrictions for unqualified investors is correct. However, it is too early to talk about it yet there is no regulation of the circulation of cryptocurrencies. A limit of 50 thousand rubles is enough to try your hand at the exchange, but this is not enough for buying NFTs or staking – commissions can be higher than the threshold. However, perhaps this is the goal of the Ministry of Finance.

Now the decision to assign the status of a qualified investor is made by a bank or a broker. How this will work in the case of crypto assets is unclear. If you follow the path proposed by the Ministry of Finance, then it is very easy to introduce the restriction – the decision will still be made by Russian banks.

Whatever regulatory path we take, restrictions for unqualified investors are possible only when the purchase of cryptocurrency is allowed through large regulated players licensed by the Central Bank. And no anonymity. Too strict requirements for qualified investors are useless – a market for intermediary pools may arise. It turns out that by reducing some risks, the regulator will create others.

Tags: crypto newsinvestment limitlimit on investment
Share76Tweet47
ADVERTISEMENT
Next Post

Instructions for assembling a mining farm :Crypto

James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, James has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

Related Posts

Celsius Bankruptcy Update: Creditors Overwhelmingly Back Reorganization Plan
Bitcoin News

Celsius Bankruptcy Update: Creditors Overwhelmingly Back Reorganization Plan

September 26, 2023
Mixin Network Falls Victim to $200 Million Security Breach
General News

Mixin Network Falls Victim to $200 Million Security Breach

September 25, 2023
3 Cryptocurrencies To Avoid Trading In The Upcoming Week
Altcoin News

3 Cryptocurrencies To Avoid Trading In The Upcoming Week

September 22, 2023
Crypto Taxes India: WazirX CEO’s Forecast For The Next Two Years
Bitcoin News

Crypto Taxes India: WazirX CEO’s Forecast For The Next Two Years

September 22, 2023
Robert Kiyosaki’s Insights On Gold, Silver, And Bitcoin
Bitcoin News

Robert Kiyosaki’s Insights On Gold, Silver, And Bitcoin

September 20, 2023
Crypto Industry Alert: SEC’s Enforcement Chief Signals More Charges for Exchanges and DeFi
Bitcoin News

Crypto Industry Alert: SEC’s Enforcement Chief Signals More Charges for Exchanges and DeFi

September 20, 2023
Next Post
Crypto

Instructions for assembling a mining farm :Crypto

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    201 shares
    Share 80 Tweet 50
  • Elon Musk’s Silence And Its Impact On DOGECOIN

    194 shares
    Share 78 Tweet 49
  • Grayscale vs. SEC Decision Boosts XRP

    194 shares
    Share 78 Tweet 49
  • 3 Cryptocurrencies To Avoid Trading In The Upcoming Week

    194 shares
    Share 78 Tweet 49
  • Bitcoin (BTC) vs. Worldcoin (WLD) Comparative Study

    192 shares
    Share 77 Tweet 48
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2023 CryptoMufasa - All Rights Reserved!

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2023 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.