Russia Narrows Crypto Trading to Three Assets: Bitcoin, Ether, and USDT
Russia's central bank has finalized the list of cryptocurrencies that will be available to retail investors on regulated exchanges. The list consists of only three assets: Bitcoin, Ether, and USDT.
The decision is in line with the July legislation that cleared the way for regulated crypto trading starting September 1. However, the previous law did not specify which assets would be permitted for retail investors.
The whitelist leaves out other cryptocurrencies, including stablecoins besides USDT. The cap on individual purchases has been set at 300,000 rubles (approximately $3,600) per year per intermediary, but it's worth noting that this limit applies to each intermediary separately, allowing investors to stack allowances and increase their total exposure.
Crypto payments within Russia remain banned, and acquiring Bitcoin via a regulated intermediary is only permitted for investment purposes, not for spending. The USDT choice stands out as the sole stablecoin included in the initial list, giving Tether a foothold inside Russia's regulated perimeter that no rival enjoys.