In the bill “Digital Currency”, the Ministry of Finance of the Russian Federation replaced the concept of a qualified investor with a professional digital currency buyer. Interfax writes about this, citing a knowledgeable source.

The agency recommends considering as a professional buyer a person recognized by a digital trading platform operator or a digital currency exchange operator.

The bill maintains a limit that allows non-professional investors to purchase digital currencies for no more than 50,000 rubles per year. In case of a successful test, the limit can be increased to 600,000 rubles.

Professional buyers will be able to trade without restrictions.

In the new edition, the minimum amount of equity capital of the exchanger has been reduced – from 50 million to 30 million rubles. The bar for exchanges remained the same – at least 100 million rubles.

The definition of digital mining has also changed in the document. It is now defined as “the operation of one or more computing devices integrated into an information system, the circulation of digital money in this system, and the user receiving digital money for this transaction”.

Legal entities and individual entrepreneurs can engage in mining after inclusion in a special register. Individuals who receive digital money as a result of mining are not required to register as individual entrepreneurs if the energy consumed for this does not exceed the limits set by the government.

If passed, the law will enter into force on 1 January 2023.

Recall that the draft “On Digital Currency” developed by the Ministry of Finance provides for transactions with cryptocurrencies through Russian banks, identification of holders of crypto wallets and separation of investors by qualifications.

The head of the financial market committee, Anatoly Aksakov, admitted that the law could be adopted in parallel with the amendments to the Tax Code on the taxation of transactions with crypto assets.