Only qualified investors will be able to buy cryptocurrency in the Russian Federation

The Russian authorities again want to limit the investments of unqualified investors in cryptocurrencies byadoption of appropriate legislation. This was announced by the President of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin.

«Citizens' investments in cryptocurrencies are now growing, and we are one of the three strongest countries in the world in issuing cryptocurrencies, and, therefore, the problem of regulation here arises quite acutely,- said Shokhin.

I wish everything was settled here,including the tax aspects of this topic, there is a desire to ensure the corresponding income of taxes to the budget, but this issue is not regulated, including the Civil Code.

Cryptocurrencies have high volatility and mayturn out to be a tasty morsel for those who want to make money, but they can also turn into a reason for financial failures of citizens, first of all, and this worries the authorities and the regulator.

The purpose of this, of course, is good: it is proposed to limit the possibility of concluding transactions with cryptocurrencies only to qualified investors, since this is "a rather complex instrument."

According to the head of the financial market committee Anatoly Aksakov, in early October, the deputies had already considered a similar initiative.

As Aksakov explained, investing in cryptocurrencies is "ill-considered" and involves a lot of risk, and restrictions for unqualified investors should protect them.

«Digital assets are a topic of our close attention, and here we will look at maximizing the protection of our citizens when investing in digital currencies», - said the deputy.

To become qualifiedinvestor, you need to submit an application to the management company or broker with which you plan to cooperate. The application specifies in relation to which assets the status of a qualified investor is required. Each company has its own procedure for recognizing persons as qualified investors, the requirements for which are established by a regulatory act of the Bank of Russia.

It is important to meet one of these requirements:

• The amount of personal savings is at least 6 million rubles. These can be funds in bank accounts and deposits, securities and other property.
• The turnover on transactions in the financial market - from 6 million rubles for the last year, while at least one transaction must be made monthly, at least 10 every quarter.
• Higher economic education or financial market specialist certificate, as well as CFA, CIIA or FRM certificates.
• Work experience in an organization that transacts with securities and / or derivative financial instruments.

Thanks to this legislative initiativeordinary Russians will not be able to use cryptocurrencies to save their funds, especially at a time when interest on bank deposits does not keep pace with real inflation.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

</p>