Russian Central Bank Proposes Annual Cap of 300,000 Rubles on Cryptocurrency Purchases for Retail Investors

On November 11, the Bank of Russia announced a draft regulation that sets the rules for cryptocurrency purchases by non-qualified investors (retail investors). The draft specifies a limit of 300,000 rubles (approximately 580,000 yen) per year per intermediary for retail investors purchasing cryptocurrencies. Intermediaries include cryptocurrency exchanges, brokers, and asset management companies. The cryptocurrencies eligible under this regulation are limited to those with high liquidity. The Bank of Russia explains that this measure is to protect non-qualified investors from sudden and unpredictable price fluctuations. Currently, the cryptocurrencies specified are Bitcoin (BTC),...