Russian Justice Ministry registers Central Bank directive on cryptocurrencies for non-qualified investors, will take effect two weeks before trading starts on MOEX

MOSCOW. Nov 6 (Interfax) - The Justice Ministry has registered a directive from the Central Bank of Russia that defines the list of cryptocurrencies permitted for public circulation on exchanges and available for purchase by non-qualified investors; the document has been published on the Central Bank's website.

Bitcoin, Ethereum and Tether USDT will be available to non-qualified investors within a limit of 300,000 rubles per year through a single intermediary. Qualified investors will have access to any cryptocurrencies without restrictions. Before a transaction, an investor must pass a test and familiarize themselves with the risks of investing in cryptocurrency, regardless of their status.

The directive will take effect on November 17. "From that moment, exchanges have the right to admit these assets to public circulation," the Central Bank said in a statement.

In early October, Boris Blokhin, senior managing director for sales and business development at the Moscow Exchange , said that the trading venue plans to provide the opportunity to conclude cryptocurrency transactions from December 1, and is currently testing operations with professional market participants. The Moscow Exchange will use a partner settlement digital depository, where market participants will open accounts. No additional permits or licenses will be required for the Moscow Exchange to launch trading, Blokhin said.

A law on digital currencies and digital rights came into effect in Russia on September 1, creating a comprehensive legal framework for cryptocurrency circulation. Transactions involving cryptocurrencies can be conducted via the existing infrastructure of exchanges, brokers and trustees, and henceforth also via crypto exchanges and digital depositories. Cryptocurrency can be purchased and sold via crypto exchanges and the rights to these assets can be recorded in digital depositories.

The digital depository register currently consists of nine participants - Sberbank , VTB , Voltari, Atomyze (part of T-Technologies Group together with T-Bank), Cloud Infrastructure, TT, Madrigal OIS, Tokens (PSB bank group ) and Galoodin.

The register of crypto exchangers numbers 25 participants, including Sberbank, VTB, T-Invest Lab, TT, Ingo bank and Web3.0.