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Russia restricts mutual funds from investing in crypto, even for qualified investors
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ambcrypto.comRussian regulators have been making an effort to increase oversight in the crypto-sector. In a new directive, the Bank of Russia has put a ban on mutual funds from investing in digital currencies. A translated document stated,
“…a ban is established on the investment of funds of mutual funds, including those intended exclusively for qualified investors, in digital currencies and financial instruments, the cost of which depends on the rates of digital currencies.”
Simply put, this essentially bars funds from crypto-exposure, which was previously only a recommendation.
In fact, a local report quoted an expert who revealed that there are currently no mutual funds in Russia that invest in cryptocurrencies. Therefore, the decision will not have a
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