The Bank of Russia intends to lift restrictions prohibiting qualified investors from investing in settlement instruments whose value is linked to cryptocurrencies via unit investment funds (UIFs).
The regulator continues to implement initiatives to give qualified investors access to cryptoassets. The relevant regulations are contained in the draft Bank of Russia ordinance.
The document also provides for certain measures, which the regulator has already discussed with market participants. The said measures involve extending the list of unlisted securities which retail UIFs can use for investment purposes. However, the share of such assets will be limited to 10% (20% for closed-end funds).
Furthermore, the procedure for calculating concentration limits in retail UIFs is being improved. In particular, the 10% limit, previously applied to a single company, now extends to the entire group of related organisations.
The Bank of Russia welcomes any suggestions and comments through 9 December 2025.
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