The Central Bank of Russia has announced its new decision regarding Bitcoin and Cryptocurrencies!

Bitcoin (BTC) and cryptocurrencies have taken significant steps in Russia, where the Central Bank has made a new move.

Accordingly, the Central Bank of Russia will allow qualified investors to trade in crypto derivatives.

The Central Bank of Russia announced in a statement that local financial institutions are now allowed to offer crypto derivatives.

The Central Bank of Russia has opened the way for limited access to cryptocurrency-related financial products with this move, allowing qualified investors to trade in cryptocurrency-linked derivatives under strict conditions.

The bank stated that these products should not be deliverable. This means that investors will be exposed to cryptocurrency price movements and will not be able to pay with real cryptocurrency.

The Central Bank of Russia stated in a statement that it continues to warn financial institutions and their clients against directly investing in cryptocurrencies.

“Financial institutions may offer qualified investors financial derivatives, securities, and digital financial assets whose returns are tied to cryptocurrency prices. The fundamental condition is that these types of instruments must be non-deliverable.

The Russian Government is currently evaluating the proposals of the Central Bank of Russia for the launch of a test regime in which transactions with cryptocurrencies can only be carried out by certain categories of investors.

*It is not investment advice.

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