Russia will limit the amount of purchase of cryptocurrencies

In RUSSIA, they plan to introduce a limit on the amount of purchases of cryptocurrencies. Such a proposal, said Deputy Finance Minister Alexei Moiseev, was adopted at a meeting with Russian President Vladimir Putin dedicated to cryptocurrencies.

“[The proposal] is conceptually supported, but you need to know how much. We need to look at international practice,” the deputy minister said.

Previously, the proposal to limit the purchase of cryptocurrencies to a certain amount was not reported. Which department came up with such an initiative is not specified.

The meeting at which cryptocurrencies were discussed was held by Russian President Vladimir Putin on October 10. The meeting, a significant part of which was held behind closed doors for the press, was attended, among others, by the heads of the Ministry of Finance and the Central Bank.

The HEAD of the Russian Ministry of Finance, Anton Siluanov, announced earlier that at the meeting it was decided that the state would “lead and legally regulate” the issuance and circulation of cryptocurrencies in Russia. How this will be implemented in practice, Siluanov did not specify.

In Russia, the status of cryptocurrencies, including bitcoins, is currently not regulated by law.

At the end of August, Alexei Moiseev, Deputy Minister of Finance of Russia, stated that his department was proposing to allow operations with cryptocurrencies in the country only on the stock exchange and only for qualified investors.