The Russian State Duma is considering the possibility of legally limiting investments in crypto assets by non-accredited investors, Interfax has reported citing the head of the Financial Market Committee, Anatoly Aksakov.
According to him, this will help protect private investors, as cryptocurrencies are "quite a complicated tool" for them. He added:
"Digital assets are the subject of our greatest attention, and here we will look at how to maximally protect our citizens when investing in digital currencies."
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The official has stressed cryptocurrencies are associated with high risk, but also high profitability:
"We need, of course, to prescribe in the legislation rules that will protect a non-accredited investor in ill-considered investments in digital currencies."
The head of the financial market committee has previously said Bitcoin cannot be legalized due to its volatility, and has also proposed to register mining as a type of business activity.