Russia Greenlights Bitcoin, Ethereum, and Tether for Trading
The Bank of Russia has approved Bitcoin (BTC), Ethereum (ETH), and Tether's stablecoin USDT for trading on licensed cryptocurrency exchanges in the country.
The approval is part of new purchase rules for non-professional investors, who will soon be able to acquire these cryptocurrencies from any Central Bank of Russia-approved intermediary, including brokers, exchanges, and asset managers.
The approved cryptocurrencies were chosen based on strict criteria, including market capitalization, average daily trading volume, and pricing history on foreign exchanges. To be whitelisted in Russia, a crypto asset's market cap must have exceeded an average of 5 trillion rubles (over $60 billion) over the past two years.
The new law regulating cryptocurrency transactions in Russia is scheduled to enter into force on September 1, and the Central Bank will introduce specific rules for various operations with cryptocurrencies, including exchange, storage, and margin trading.