Crypto news

After classic brokerage accounts became virtually inaccessible for Russians in 2022, the most enterprising part of investors quickly switched to alternative instruments. This refers to trading tokenized shares of American giants through crypto derivatives on foreign platforms. However, debates still rage around this method: how safe is it, is it legal, and what are its real scales?

Real Popularity: Mass Trend or Niche Instrument?

Expert opinions on this issue have diverged dramatically. On one hand, we see heated discussions in specialized communities and high traffic on platforms such as Bybit, Binance, and Deribit. This suggests that for many active traders and experienced crypto investors from Russia, this method has become almost primary. The appeal is obvious: the ability to use leverage, round-the-clock deposit/withdrawal in USDT, and no need to open an account with a foreign broker.

On the other hand, a number of analysts rightly point out that this is still the domain of a "narrow circle of experienced players" rather than a mass phenomenon. Such an instrument requires a certain level of technical expertise and understanding of risks, which automatically cuts off a significant portion of retail investors.

Risks That Cannot Be Ignored

In assessing potential threats, experts are unanimous. The main problem is the investor's complete dependence on the token issuer. A tokenized share is a derivative that gives you no rights to the real underlying asset. If the exchange runs into problems, you risk being left with nothing, since your legal rights to the security are not recorded.

Key risks can be divided into three categories:

• Legal: complete uncertainty about the legal status of transactions and complex tax accounting. The issue of the legality of the origin of funds when returning them to the Russian banking system is particularly acute.
• Sanctions: high probability of account blocking due to Russian citizenship. You are completely at the mercy of the foreign platform's rules.
• Infrastructural: a tokenized instrument never guarantees you ownership of the underlying asset. You are only trading a "reflection" of the price.

What Awaits Us with New Regulation?

Upcoming changes in digital currency legislation will likely focus on legal domestic products. The emergence of licensed digital financial assets (DFAs) for foreign securities and various structural solutions is expected. According to a number of experts, this will eventually push out the "gray" market segment.

However, this does not mean that access to international markets will be completely closed. After the law comes into effect, citizens will be able to legally buy tokenized assets for cryptocurrency. Restrictions will only apply to the direct use of Russian payment infrastructure. That is, buying USDT on a licensed platform in Russia, withdrawing them abroad, and purchasing assets there is legal.

Cryptalist Analytics: In my opinion, the current boom in tokenized shares is a temporary and risky solution for those who are not ready to wait for civilized instruments to emerge. Yes, it is convenient and fast, but the price is a complete lack of legal protection. Here, the investor is hostage not only to market conditions but also to the political will of regulators. I would recommend waiting for domestic DFAs to appear or using proven, albeit more complex, P2P schemes with direct asset ownership. Playing with derivatives without rights to the underlying asset is not investing, but high-risk speculation.