Russian Central Bank Wants to Cap Bitcoin Buying at USD 7,800 a Year

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Once again, Russia has a worrying idea for the local crypto industry and users as Russia’s Central Bank announced a new proposal that would seek to place an annual cap of around USD 7,800 (BTC 0.68) on crypto purchases for everyone in the country barring accredited investors.

In an official release, the Central Bank proposed that the new cap should come into effect from January 1, 2021, when the nation’s very first crypto-related law is promulgated.

Moscow-based crypto investment advisor Dmitriy Zaikov told Our,

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