Russia Opens Public Crypto Trading to Three Major Assets

The Bank of Russia has proposed opening public organized crypto trading with only Bitcoin, Ethereum, and Tether's USDT eligible for admission. According to a draft directive, Russian residents who are not qualified investors could spend up to ₽300,000 (approximately $58,000) on cryptocurrency through a single broker in a calendar year.

The cap measures cumulative purchase costs through that broker and limits acquisitions based on the ruble cost of cryptocurrency purchases made for the client through the broker during the year. The draft remains open for comments until August 24, and the central bank can amend the three-asset appendix, cap, or other provisions before issuing a final directive.

Russia's draft crypto rules would limit non-qualified residents to ₽300,000 in annual purchases per broker while qualified investors retain broader access. Qualified investors must pass a test after which they may buy and sell any cryptocurrencies through intermediaries without a ceiling on the amount.