Anatoly Aksakov proposed to limit investments of unqualified investors in cryptoassets – Bits Media

Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, proposed to limit unqualified investors in working with digital assets, to protect them from risks.

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according to the agency "Interfax", this issue was discussed at the International conference on protecting the rights of consumers of financial services. Aksakov said, that the state pays close attention to digital assets, since they are a relatively new tool, when working with which private investors may have difficulties.

Aksakov noted, that investing in cryptocurrencies can bring big profits, but they also involve serious risks.. Therefore, Aksakov proposed introducing provisions into Russian legislation, which would limit investments of unqualified investors in cryptocurrencies.

The founder of Alor Group of Companies Anatoly Gavrilenko believes, that when developing legislation it is important not to overdo it and not to impose too strict restrictions on investors. He explained, that cryptocurrencies were originally created to achieve financial freedom. If regulators start pushing users to the wall, they will always find a way to get around the bans.

Head of the Laboratory for Analysis of Institutions and Financial Markets, Institute of Applied Economic Research (IPEI) RANEPA Alexander Abramov added, that Western countries have begun to be more loyal to cryptocurrencies. According to Abramov, now about 14% American financial advisors recommend that people invest in cryptocurrencies before 2% investment portfolio. The expert considers, that private cryptocurrencies could become serious competitors to central bank digital currencies. Economist Andrey Nechaev, also participating in the discussion, considers, that it is for this reason that central banks are wary of cryptocurrencies.

In July, the Bank of Russia recommended that Russian exchanges not allow securities to be traded, payments for which depend on the rate of crypto assets, since the regulator is concerned about the high volatility of cryptocurrencies.