Russia Opens Regulated Crypto Market to Retail and Qualified Investors

Russia has opened its regulated cryptocurrency market to retail and qualified investors under the supervision of the Bank of Russia. The country's first comprehensive legal framework for cryptocurrency trading, custody, and cross-border settlements took effect on September 1.

The new law allows non-qualified investors to buy up to 300,000 rubles worth of eligible cryptocurrencies annually through each intermediary after passing a suitability test. Qualified investors can trade without an annual purchase limit but must still complete testing requirements.

The Bank of Russia has proposed Bitcoin, Ether, and USDT for regulated trading, with the final range available to retail investors depending on eligibility requirements and products offered by intermediaries. The regulator has also introduced separate conditions for non-qualified and qualified investors, including market capitalization, average daily trading volume, and pricing history.

The law creates dedicated roles for cryptocurrency exchanges and digital depositories, bringing trading and custody services under a formal regulatory structure. Exchanges will handle purchases and sales, while digital depositories will record rights to cryptocurrencies and other digital assets.