Russia Limits Retail Crypto Trading to Bitcoin, Ether, and USDT

Russia's central bank is moving to restrict retail crypto trading to just three assets: Bitcoin (BTC), Ether (ETH), and Tether's USDT. The draft rules, which are part of a wider effort to regulate crypto trading in the country, would limit non-qualified investors to 300,000 rubles ($3,600) of purchases per year at each intermediary.

Qualified investors, on the other hand, would not face this cap. The move is seen as a way to limit exposure to other cryptocurrencies and stablecoins that are not currently allowed for retail trading in Russia.

The whitelist adds detail to legislation passed in July that opens regulated crypto trading from September 1. However, it's worth noting that the wording of the rules sets the 300,000-ruble limit per intermediary rather than across an investor's total purchases, potentially allowing larger aggregate exposure through multiple brokers or exchanges.