Russia Approves Bitcoin, Ethereum, and Tether's USDT for Public Trade

Russia's central bank has taken a significant step towards regulating cryptocurrency trading in the country. The Bank of Russia has included Bitcoin, Ethereum, and Tether's USDT on its list of approved cryptocurrencies for public trade on Russian exchanges.

The selection was based on factors such as market capitalization, average daily trading volumes, and price formation history on foreign platforms. The regulator stated that the three cryptocurrencies met the relevant criteria.

The move follows legislation signed by President Vladimir Putin earlier this month, establishing a legal framework for digital currencies and recognizing them as property. Russians will be able to access crypto investments through domestic financial intermediaries under the new rules.

The Bank of Russia has proposed an annual purchase limit of 300,000 rubles (approximately $3,800) for non-qualified investors through each intermediary. Investors will also have to pass a test and familiarize themselves with the risks associated with crypto investments before making transactions.