Bank of Russia does not intend to turn cryptocurrencies into a mass investment product for the population. Central Bank representative Kirill Pronin emphasized that the regulator's task is to ensure the legal, understandable, and transparent analysis of encryption services, rather than to attract as many private clients as possible. Starting September 1, Russia has a law establishing the rules for the circulation of digital currencies and the functions of market participants. Crypto exchanges can exchange digital assets, and digital depositories can ensure their accounting and storage. The Central Bank has already registered the first organizations: five digital asset operators and four crypto exchangers, including the structures of Sberbank, VTB, and T-Technologies. The new infrastructure makes it possible to carry out operations under a single supervision. Operators must comply with the new requirements. At the same time, the inclusion of intermediaries in the registries does not mean that the state recommends citizens to invest in cryptocurrencies. The regulator distinguishes between legal access to the crypto market and its promotion to the mass investor. EKONOMISTIKA

Bank of Russia does not intend to turn cryptocurrencies into a mass investment product for the population. Central Bank representative Kirill Pronin emphasized that the regulator's task is to ensure the legal, understandable, and transparent analysis of encryption services, rather than to attract as many private clients as possible. Starting September 1, Russia has a law establishing the rules for the circulation of digital currencies and the functions of market participants. Crypto exchanges can exchange digital assets, and digital depositories can ensure their accounting and storage. The Central Bank has already registered the first organizations: five digital asset operators and four crypto exchangers, including the structures of Sberbank, VTB, and T-Technologies. The new infrastructure makes it possible to carry out operations under a single supervision. Operators must comply with the new requirements. At the same time, the inclusion of intermediaries in the registries does not mean that the state recommends citizens to invest in cryptocurrencies. The regulator distinguishes between legal access to the crypto market and its promotion to the mass investor. EKONOMISTIKA