Russia Approves Major Cryptocurrencies for Regulated Trading

Russia's central bank has taken a significant step towards regulating cryptocurrencies by approving Bitcoin, Ethereum, and USDT for public trading on regulated exchanges starting September 1.

The new digital assets law sets strict criteria for eligible cryptocurrencies, including high market capitalization and trading volume. Retail investors will face a yearly purchase cap of 300,000 rubles and must pass a certification exam to trade these cryptocurrencies.

However, qualified investors who pass the risk test will not have a purchase cap, but they still need to meet the required criteria. The move aims to formalize existing holdings rather than creating new demand for these cryptocurrencies.