According to TechFlow, on December 4, as reported by Cryptopolitan, Russia’s second-largest bank, VTB Bank, plans to allow investors to buy and sell cryptocurrencies through brokerage accounts. The bank currently offers cryptocurrency derivatives investment services and plans to provide direct digital asset investment next year.
Andrey Yatskov, head of VTB Bank’s brokerage services division, announced at an investment conference in Moscow that clients will be able to directly buy, sell, and hold decentralized digital currencies like Bitcoin in personal investment or brokerage accounts. Currently, Russia only allows “highly qualified” investors to invest in cryptocurrencies under an experimental legal regime, requiring at least 100 million rubles in traditional investments and an annual income of 50 million rubles. The Central Bank of Russia is discussing with the Ministry of Finance to expand investor access and regulatory frameworks, and it is expected that a complete intermediary network will be established, including cryptocurrency brokers and custodial service providers.
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