$8,000 a Year in Crypto: The Limit Bank of Russia Suggests for Retail Investors

$8,000 a Year in Crypto: The Limit Bank of Russia Suggests for Retail Investors

Gate Trade News Wednesday, October 14, 2020 34 0

The Bank of Russia has proposed a limit on how much cryptocurrency per year retail investors are able to buy and it’s less than 1 BTC at the current rates.

 

Russia’s relationship with cryptocurrencies and blockchain-based technology is undoubtedly a tumultuous one.

 

While the country appears to support the nascent tech behind digital currencies, it’s also taking steps to limit their usage as much as possible.

 

According to a new explanatory note that refers to a newly-passed law on cryptocurrencies, the central bank of the country proposed to set limits on the annual investments that unqualified investors can make.