Russia Opens Regulated Crypto Trading to Retail Investors
Russia is opening up regulated cryptocurrency trading to retail investors on September 1. The new framework allows non-qualified investors to buy up to $3,800 worth of cryptocurrencies annually through licensed intermediaries, such as brokers or exchanges. To trade, they must pass a risk-assessment test and access only the three cryptocurrencies initially approved by the Bank of Russia: Bitcoin, Ethereum, and USDT.
Qualified investors, on the other hand, can trade without these restrictions. However, there's a cap of 300,000 rubles ($3,800) per year at each intermediary, not a nationwide limit. Retail investors must also use only cryptocurrencies that meet the regulator's liquidity requirements.
The Bank of Russia has chosen Bitcoin, Ethereum, and USDT for public exchange trading based on market capitalization, average daily trading volume, and at least five years of pricing history on foreign exchanges. Exporters and importers can use cryptocurrencies for cross-border settlements, but domestic cryptocurrency payments remain prohibited.