Russia Names Bitcoin, Ether, USDT for Regulated Crypto Trading

Russia's central bank has proposed allowing Bitcoin, Ether, and USDT to trade on regulated exchanges under the country's new crypto rules. The proposal follows Russia's new crypto law signed on August 4, which gives the Bank of Russia authority to decide which digital currencies can enter organized trading.

The Bank of Russia said Tuesday that the three crypto assets have been included in a proposed list of digital currencies that could qualify for organized trading, based on requirements covering market capitalization, trading activity, and price history in overseas markets. Bitcoin, Ether, and USDT meet the regulator's proposed criteria because they have sufficient market size, average daily trading volume, and at least five years of trading history outside Russia.

Under the new rules, non-qualified investors will be limited to 300,000 rubles (about $3,650) in annual crypto purchases through each intermediary and must pass a risk knowledge test. Qualified investors will face no purchase limits for crypto traded on exchanges or over-the-counter markets, although testing requirements will still apply.