Russia Launches Regulated Crypto Market Under Bank of Russia Supervision
Russia has introduced a comprehensive framework for regulated cryptocurrency trading, custody, and cross-border settlements. The law, which took effect on September 1, brings all three areas under Bank of Russia supervision.
Under the new rules, non-qualified investors can buy up to 300,000 rubles worth of eligible cryptocurrencies each year through a registered intermediary after passing a suitability test. Qualified investors, who must also pass testing requirements, have no annual purchase limit but are restricted in their trading options.
The Bank of Russia has identified Bitcoin, Ether, and USDT as the initial range of cryptocurrencies available for regulated trading. However, the regulator's criteria consider market capitalization, average daily trading volume, and pricing history on foreign platforms to determine eligibility.