Russia Legalizes Limited Crypto Trading, Caps Investor Limits at $3,700

Russia has introduced a new law allowing citizens to trade cryptocurrencies like Bitcoin and Ether, but with restrictions. From September 1, non-qualified investors can buy up to 300,000 rubles ($3,700) of eligible cryptocurrencies per year through intermediaries after passing a mandatory test.

The Bank of Russia has created a regulated market for crypto transactions, allowing exchanges and digital depositories to operate. However, qualified investors must also take the test and can buy without limits once they pass.

Russia's law is not a full liberalization of cryptocurrency trading, but rather a managed access approach. The payment ban remains in place, and cryptocurrencies cannot be accepted as payment for goods and services within Russia.