Russia Approves Bitcoin, Ethereum, and Tether for Retail Trading

The Russian central bank has introduced new regulations for retail trading of cryptocurrencies in Russia. Only three assets have been approved for ordinary Russian investors: Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The criteria for approval is liquidity, with the approved assets accounting for more than half of the total crypto market capitalization.

The exclusion of XRP from the list is notable, given its significant market capitalization and daily liquidity. Several theories are circulating as to why XRP was excluded, including its ambiguous legal status internationally and the centralized structure of Ripple Labs, which controls a significant portion of the circulating supply.

Russia's regulated approval of retail trading fits into a broader logic of gradual normalization: integrating cryptocurrencies into the Russian financial system while maintaining strict control over which assets are accessible. By limiting access to three ultra-liquid, globally recognized assets, Moscow reduces the risk of extreme volatility for retail investors.