Russia allows banks to offer crypto products to accredited investors

Russian banks have started rolling out crypto investment products tied to the price of Bitcoin following a greenlight from the central bank.

The Bank of Russia has permitted financial institutions to offer certain cryptocurrency-based financial instruments to accredited investors.

Russian banks are now free to provide qualified investors with a range of crypto products, including crypto derivatives, securities and other digital financial assets tied to crypto prices, the central bank announced on May 28.

A key stipulation, however, is that these products must not involve the “actual delivery of cryptocurrencies,” the Bank of Russia emphasized.

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