Bill by Russia finance ministry proposes limit on annual cryptocurrency investments

The Finance Ministry in Russia has tabled draft legislation that proposes certain limits to cryptocurrency investments based on financial literacy tests.
Other propositions by the Ministry include taxing crypto mining, legalizing crypto as investment instruments, and full KYC to transact crypto.

The Ministry of Finance in Russia has reportedly presented a bill on cryptocurrency regulation in the country. The draft legislation seeks enhanced protection of digital asset investors through various ways, including the placement of a limit on annual crypto investments.
Historically, the nation’s Finance Ministry has been in favor of crypto legalization and regulation, rather than what the Bank of Russia has previously championed – an absolute ban. Its latest bill now seeks to have cryptocurrencies recognized as an investment instrument, but prohibited as a payment method.
Additionally, the legislation, should it get approved, would impose further security requirements on crypto invest

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