A Russian lawmaker welcomes the central bank’s shift on crypto regulation, allowing retail investors to buy Bitcoin and other tokens. The bank still views cryptos as high-risk and unsuitable for domestic transactions. Major banks may soon offer crypto trading services to both qualified and unqualified investors with spending limits.

The central bank plans to let high-income individuals and professional investors, as well as retail investors, buy crypto. Retail investors must pass an eligibility test and face a cap on annual crypto investments at about $3,800. The bank has proposed amendments to legislation and highlights the risks of investing in cryptocurrencies.

Cryptocurrencies are considered high-risk due to their volatility and lack of jurisdictional backing. The central bank emphasizes the potential loss of funds for investors in the crypto market. They have submitted proposals to the government for review and continue to warn of the risks associated with investing in cryptocurrencies.

Read more at Yahoo Finance: Crypto advocates welcome Russian central bank’s retail investor turnaround