Russia Limits Retail Crypto Trading to Top Three Assets

The Bank of Russia has proposed new rules to restrict retail investors in trading cryptocurrencies. The proposal allows only Bitcoin, Ether, and Tether's USDT stablecoin for retail trading with a yearly purchase limit of 300,000 rubles (about $3,600) per currency.

The aim is to protect unqualified investors from volatile cryptocurrency price swings by allowing only the most liquid cryptocurrencies. The move comes after years of Russia's cautious stance on crypto, including a 2022 ban on crypto payments and mining to safeguard financial stability.

Sberbank plans to launch a crypto wallet and digital depository integrated into its platforms, pending new digital currency legislation expected next month.