Russians will need to qualify crypto exam before investing: Report 

The citizens of Russia may go through new rules to qualify to be eligible to make big investments in crypto assets. 

Deposit huge volatility in the crypto assets, people are adopting it to make Money. No matter whether people are able or not with their investment to grab profit but they remain active in crypto to make money. Here this situation can be seen in every country. 

According to reports, the Russian government will introduce a new law in the country to fill a gap of some flaws of this crypto industry. 

If Russia’s new rule gets passed then the people, who want to invest in crypto, will go through an exam. If the person will qualify for the exam then in that situation will be able to invest in crypto assets of more than $7,700 (600,000 Rubble). 

These new rules aimed to keep the innocent and newcomers to remain away to face big losses in this volatile crypto market. 

Russia crypto ban and regulation hurdles 

In the last few weeks, the Russian crypto industry saw huge hurdles because of much negative news against the crypto industry. The majority of the reports claimed that Russia will impose a ban. 

But recent reports hinted that Russia may choose a better option to bring highly strict regulation instead of following the ban. 

Reportedly the Russian president is in favour of crypto mining industry adoption and the finance ministry is in favour of crypto regulation.

Besides this positive news, credit rating agency Fitch also published its stance on the decision of Russia’s crypto ban and claimed that it may give some better results to Russia but it will slow down the Blockchain-based innovative development works in the country.

Read also: Cyberspace Administration of China announces blockchain innovation across 15 zones