, the latter has not backed away from its plans to legalize the market. The bill reads that the use of cryptocurrencies as a payment method will still be prohibited on Russian soil, but they will be considered an investment instrument.
In addition, the lawmakers opined that foreign digital asset exchanges should obtain a license to operate on Russian territory. These trading venues should also introduce financial literacy tests to their clients and thus determine how much individuals are permitted to invest.Residents who successfully pass the tests will be able to allocate up to 600,000 roubles in digital currencies each year, while those who fail will have a limit of 50,000 roubles annually.
Many experts argue that bitcoin and gold share similar characteristics. They are both alternative investment assets, which traders often pick to diversify their portfolios.