Russian Authorities Plan To Apply Cryptocurrency Acquisition Limit
The State Duma of the Russian Federation received a draft document in which the limit for the annual volume of cryptocurrency, which inexperienced depositors can acquire, is proposed, RBC reports.
The document, if submitted by the Central Bank, will be attached to the draft law “On Digital Financial Assets (DFA)”.
According to the document, business transactions will be limited by the amount of finance during payments and the total amount of digital assets that are involved in the exchange. Also, the limit will be set in accordance with the price of the digital transaction marks that were used in the exchange. They may be crypto tools issued within the Russian Federation, according to the future law. When exchanging the same digital assets, the cost of the operation will be formed according to their nominal prices.
Anatoly Aksakov, the head of the State Duma Committee on Financial Markets, stated that a specific limit would be equal to the marginal annual cost, which was established by the crowdfunding provision for inexperienced investors – 600,000 rubles.
It is reported that these operations will not attract qualified market players as intermediaries, but all processes with the CFA will be monitored by banks, exchanges and other exchange operators to calculate the total cost.
Earlier, the State Duma of the Russian Federation was considering the introduction of mandatory user identification during crypto operations.