Russia’s central bank has defended a new cryptocurrency law that sharply distinguishes between qualified and non-qualified investors, arguing that the limits are meant to reduce risk rather than block access to digital assets. Bank of Russia Governor Elvira Nabiullina said the framework follows a broader regulatory practice and does not prevent users from moving crypto abroad.

Why the central bank backs the split

Nabiullina said the difference in treatment between investor categories is not specific to crypto and reflects a standard approach used across financial regulation. According to her explanation, non-qualified investors are given fewer opportunities because authorities are trying to shield them from risks they may not fully understand.

Her comments were aimed at criticism of Bill No. 1194918-8, which has drawn attention for setting lower purchase limits for retail participants outside the qualified investor category. The central bank’s position is that the restrictions are designed as a form of investor protection, not as a blanket barrier to crypto activity.

Purchase limits under the new law

The law is scheduled to take effect on September 1, at the same time as the rollout of the digital ruble. Under the measure, non-qualified investors will be limited to cryptocurrency purchases totaling 300,000 rubles, or about $3,800. Qualified investors will be permitted to buy up to ten times more.

The structure creates a formal divide in how much exposure each group can take on. While critics have questioned that distinction, Nabiullina said the model is consistent with how riskier financial products are commonly regulated.

Transfers abroad remain allowed

A key point in Nabiullina’s defense was that the law does not impose restrictions on sending digital assets outside Russia. She described the crypto ecosystem as open in that respect and said there are no limits on transferring such assets abroad.

She drew a comparison with ordinary foreign-currency transfers to overseas accounts, saying these are not restricted when needed for purposes such as health care or education. In the same vein, she said the new crypto rules preserve the ability to repatriate assets and transfer them internationally.

What protections end at the border

At the same time, the central bank warned that assets moved abroad would no longer benefit from Russian legal protections. Nabiullina said that if problems arise with crypto held outside the country, disputes would have to be handled in foreign jurisdictions rather than under Russian law.

That caveat appears central to the Bank of Russia’s message: the framework is open to outward transfers, but legal safeguards stop where Russian jurisdiction ends. In practice, this means investors may retain freedom to move assets internationally while also assuming greater responsibility if those holdings become subject to conflicts or losses overseas.

The debate around Bill No. 1194918-8 reflects a broader tension in crypto policy between access and consumer protection. Based on Nabiullina’s remarks, the Bank of Russia is presenting the new regime as a controlled opening: tighter purchase caps for less experienced investors at home, but no outright prohibition on moving digital assets abroad, even though those assets would not be protected by Russian law once transferred.

Source: news.bitcoin.com