The Ministry of Finance proposed to identify professional buyers of cryptocurrency

The Ministry of Finance proposed to identify professional buyers of cryptocurrency

In the draft law “On digital currency” the Ministry of Finance of the Russian Federation replaced the concept of a qualified investor with a professional buyer of digital currency. It was reported by “Interfax” with reference to a knowledgeable source.

The Ministry proposes to consider as a professional acquirer an individual recognized as such by an operator of a digital trading platform or an operator of digital currency exchange.

The bill retains the limit that allows non-professional investors to purchase digital currencies for no more than 50,000 rubles annually. If they successfully pass the test, the limit may be increased to 600,000 rubles.

Professional buyers will be able to make transactions without restrictions.

The new edition reduced the minimum equity of the exchanger – from 50 million to 30 million rubles. The bar remained the same for exchanges – not less than 100 million rubles.

The document also changed the definition of digital mining. Now it is described as “the operation of one or more computing devices integrated into an information system, providing circulation of digital currency in the system, and receipt of digital currency by the user for such operation.

Legal entities and individual entrepreneurs can engage in mining once they are included in a special register. Individuals who obtain digital currency by mining are not required to register as IEs, if the energy consumed for this purpose does not exceed the limits set by the government.

If passed, the law will take effect on January 1, 2023.

As a reminder, the draft law “On digital currency” developed by the Ministry of Finance provides for transactions with cryptocurrencies through Russian banks, identification of cryptocurrency holders and separation of investors by qualification.

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Written by Renat
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