Russian President Vladimir Putin has signed a landmark law establishing a regulatory framework for the cryptocurrency market, according to state-run news agency TASS.
The law sets up rules for crypto exchanges, custodians, brokers, clearing houses, investors and other market participants, while maintaining the ban on using crypto as a means of payment or legal tender domestically, TASS reported Tuesday.
Under the framework, retail investors are allowed to buy the most liquid cryptocurrencies capped at 300,000 rubles ($3,700) each year per intermediary.
The report, however, did not specify which crypto assets would qualify.
On the other hand, qualified investors are free to purchase any crypto assets with no limits.
