OREANDA-NEWS The Ministry of Finance has sent a draft federal law "On digital currency" to the government, Interfax writes. The document establishes the norms of the concept of regulating the crypto market in Russia, which was previously approved by the government.

According to the proposed bill, Russians will be able to legally invest up to 600 thousand rubles in cryptocurrency annually, but for this it will be necessary to undergo special testing. If a citizen fails the test, the maximum amount of investments will be limited to 50 thousand rubles. At the same time, there are no restrictions on investments for qualified investors and legal entities in the document.

At the same time, if the bill is adopted, the use of tokens as a means of payment in Russia will remain illegal. The creators of the document emphasize that digital currencies are considered exclusively as a tool for investment. The project also sets requirements for cryptocurrency exchanges and exchangers - they will affect corporate governance, reporting, information storage, internal control and audit, risk management system and the amount of own funds.

All organizations that have received a license will be listed in a special register of operators and controlled by an authorized body. Foreign companies will need to register in Russia. Conducting transactions for the sale or purchase of tokens only after the client is identified on the platform.

The deposit and withdrawal of cryptocurrencies from the client to the operator and vice versa will be made exclusively through banks using a bank account. "Operators, like banks, will be required to carry out compliance procedures and inform Rosfinmonitoring about detected suspicious transactions," the Finance Ministry added.