The Russian Bank said financial institutions can offer instruments related to cryptography to qualified investors while the nation continues to explore crypto offers.
“Financial institutions can offer qualified investors financial derivatives, securities and digital financial assets whose yields are linked to cryptocurrency prices,” the Russian bank said on Wednesday.
Russia has softened its position to the crypto recently while the asset has continued to see new heights. Although the central bank has warned institutions and their customers against investment directly in the crypto, it proposed to authorize a limited group of qualified investors to exchange the crypto in an experimental regime which would last three years – something it says that the government is still considering.
The country’s finance ministry should reveal an exchange of cryptography for highly qualified investors depending on the reports, but no deadline has yet been indicated because the discussions are still underway.
However, in Wednesday, the central bank also encouraged credit institutions to be careful when considering the risks of these instruments, ensuring that they are entirely covered with capital and individual limits are set to them.
“During the year, the Russian bank plans to formalize the conservative approach to risk regulation of credit institutions associated with the price fluctuations in cryptocurrencies,” said the position.
