cryptoknowmics.com
The Russian Federation's Central Bank (CBR) is making efforts to ban mutual funds from investing in cryptocurrencies like Bitcoin (BTC). The limits would also apply to derivatives, whose value is based on rate fluctuations or the prices of digital asset-linked securities.
The measure was justified by the necessity to protect investors' funds and rights, according to the monetary authority. The rule applies to both non-qualified and accredited investors. It will be implemented beginning in 2016 by modifications to the CBR regulation "On the composition and structure of assets of joint-stock investment funds and mutual investment funds."
The modifications were recently released for public comment by the Bank of Russia. The deadline for providing input and recommendations on the draught paper is December 27. The new regulations were put up by the regulator after asset managers were warned earlier this year not to incorporate crypto assets in their mutual funds.