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The Bank of Russia has permitted financial institutions to offer crypto-linked derivatives to qualified investors, marking a cautious yet significant shift in the country’s crypto policy. These instruments must be ‘non-deliverable,’ meaning investors cannot own the underlying cryptocurrencies like Bitcoin or Ethereum.
- Crypto-linked derivatives must be 'non-deliverable,' preventing ownership of underlying assets like Bitcoin or Ethereum.
- The Bank of Russia urges a 'conservative approach,' with full capital coverage and individual exposure limits.
- This policy follows Russia's 2022 sanctions, prompting exploration of crypto for international settlements and liquidity preservation.
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