PANews reported on May 29 that according to Cryptonews, the Central Bank of Russia announced that it will allow financial institutions to provide cryptocurrency-related derivatives, securities and digital financial asset trading services to qualified investors. These products must be non-delivery and cannot be settled in actual cryptocurrencies. The central bank requires financial institutions to take strict risk management measures, including fully covering relevant capital and implementing personal exposure limits. At the same time, the central bank plans to formulate formal regulations within the next year to better deal with the risks brought by cryptocurrency price fluctuations. In addition, the Russian government is considering a new proposal to establish a restricted testing mechanism that only allows specific investor groups to trade cryptocurrencies under a strict regulatory environment.