Russia Greenlights Crypto Trading with Stringent Rules

Russia's central bank has given the green light to Bitcoin, Ethereum, and USDT for public trading on regulated exchanges starting September 1. This decision marks a significant step towards establishing a regulated cryptocurrency market in Russia.

The approval comes with certain conditions, including a yearly purchase cap of 300,000 rubles for retail investors, who must also pass a certification exam. Accredited investors, on the other hand, have no purchase limits after certification.

The central bank has set strict criteria for the approved cryptocurrencies, including liquidity, market capitalization, and a minimum five-year trading history. This move is expected to allow controlled investment and select cross-border transactions in Russia, while maintaining the ban on crypto payments for goods and services domestically.