Russia plans to regulate domestic cryptocurrency trading, allowing retail investors to participate.

According to Bloomberg, the Central Bank of Russia has developed a regulatory framework to regulate the domestic cryptocurrency market, proposing to allow retail investors, in addition to accredited investors, to participate in cryptocurrency trading. Under this framework, non-accredited investors, after passing a knowledge test, can purchase the most liquid cryptocurrencies through a single intermediary, with an annual trading limit of 300,000 rubles (approximately $3,800). Accredited investors, after passing a risk awareness test, can purchase all types of cryptocurrencies, except for anonymous tokens, without limit. The Central Bank of Russia has submitted legislative amendments to the government, planning to complete the legislative regulation of related transactions by July 1st of next year.