The Russian Bank said financial institutions can offer instruments linked to cryptography to qualified investors as the Nation continues to explore cryptography offers.
“Financial institutions can offer financial derivatives qualified investors, values and digital financial assets whose returns are linked to cryptocurrency prices,” Russia Bank said in a position on Wednesday.
Russia has softened its position towards cryptography in recent times, since the asset has continued to see new maximums. Although the Central Bank has warned the institutions already its clients against investment directly in cryptography, it has proposed to allow a limited group of qualified investors to exchange cryptography in an experimental regime that would last three years, something that says that the government is still considering.
The country’s Ministry of Finance will present an exchange of cryptography for highly qualified investors according to the reports, but a deadline has not yet been indicated, since the discussions are still ongoing.
However, in Wednesday’s publication, the Central Bank also encouraged credit institutions to be careful when considering the risks of these instruments, ensuring that they are completely covered with capital and are established individual limits.
“During the year, the Russian Bank plans to formalize the conservative approach to the risks of credit institutions associated with fluctuations in cryptocurrency prices,” said the post.
