Russia plans to restrict non professional investors from purchasing foreign stablecoins, allowing only qualified investors to purchase them

According to Bits.media, the Russian government's crypto regulatory bill has added restrictions to prohibit non professional investors from purchasing foreign stablecoins. The bill introduces the concepts of "foreign digital tools" and "non deliverable foreign digital tools", categorizing stablecoins backed by collateral into the latter. Qualified investors can purchase foreign digital tools, while non qualified investors can only purchase specific assets listed by the Russian Central Bank. The Russian central bank proposed a draft regulatory framework for stablecoins at the end of June, requiring transactions to be completed through exchanges or legitimate exchange points. Russian Central Bank Governor Nabiullina expressed caution towards foreign stablecoins as issuers can freeze user assets.