Russia may restrict access of unqualified investors to cryptocurrencies

The Bank of Russia also recommends slowing down transactions on crypto exchanges in order to prevent"Emotional" investments.

Head of the Financial Market Committee AnatolyAksakov said that Russia needs new legislation that will limit the access of retail investors to cryptocurrencies. According to him, this will help prevent inexperienced traders from losing funds.

We will make sure that the maximumprotect our citizens when investing in cryptocurrencies. We need to spell out legislative norms that would protect unqualified investors from rash investments.

In addition, the Bank of Russia recommends slowing downtransactions on cryptocurrency exchanges in order to protect investors from “emotional” purchases. First Deputy Governor of the Bank of Russia Sergey Shevtsov said that these measures would protect Russian citizens from losses in the event that "the cryptocurrency market collapses to zero."

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Based on materialscointelegraph.com