Russia ‘Should Scrap Digital Rubles Buying Limit for Foreigners,’ Says Top MP
A Russian political chief thinks the Central Bank could scrap caps on the amount of digital ruble tokens foreigners are allowed to buy – a move that could allow non-Russians to buy “millions” of CBDC coins.
Per Interfax, the comments were made by the long-serving head of the State Duma’s Committee on the Financial Markets Anatoly Aksakov on a TV channel run by the nation’s parliament.
Earlier this year, Elvira Nabiullina, the Governor of the Central Bank, announced that digital ruble users would only be able to top up their digital ruble wallets with a maximum of 300,000 rubles (currently around $3,070) per month.
Nabiullina stated at the time that the caps would apply to both Russian citizens and non-residents.
She apparently made the declaration in a bid to halt potential supply issues.
But Aksakov said that if the bank scraps this cap “for foreigners,” the move would “simplify” the process for those making “foreign investment in Russia.”
He added that the move would also facilitate the process for non-residents wishing to buy Russian digital financial assets (DFAs).
DFA is a catch-all term used by Russian politicians to speak about digitized commodities and digital securities.
Aksakov stated that lawmakers had recently created legislation that “allows foreign organizations, including banks, to identify foreign clients.”
He said:
“These [foreign] clients can operate on [Russian] stock markets and, among other things, purchase digital securities […] [and] digital rubles. So I would remove restrictions for foreigners so that they can spend millions.”
Prior to the launch last month of the digital ruble’s “real-world” pilot, the bank was keen to impose strict caps.
These, Interfax noted, were imposed “in order to minimize the risks of
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