Bank of Russia Expands Criteria for Qualified Investors Ahead of August 31 Rule Change

The Bank of Russia said individuals can be recognized as qualified investors by passing a financial and banking knowledge test and obtaining documents such as the National Finance Association's Qualifin Certificate or the Moscow Exchange's Investor Certificate. According to Odaily, the new rule takes effect on August 31, replacing the central bank's previous recognition of only international certifications in fields including financial analysis, investment advisory, asset management, and risk management.Under recent cryptocurrency regulations, non-qualified investors may buy crypto through a single licensed intermediary up to 300,000 rubles a year, while qualified investors have a limit 10 times higher. Bank of Russia Deputy Governor Mikhail Mamuta said the test is intended to improve investors' financial knowledge so they understand and manage risks before trading complex instruments.