Russia Proposes $3,645 Crypto Cap for Retail Investors

The Bank of Russia has proposed strict regulations on cryptocurrency purchases for non-qualified investors. According to the draft rules, retail investors will be limited to buying $3,645 worth of cryptocurrencies per year. The proposal also restricts eligible cryptocurrencies to Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

The Bank has established a set of criteria for determining eligibility, including market capitalization, at least five years of overseas price history, and average daily trading volume.

Qualified investors will not face purchase limits, but all investors will be required to complete a risk assessment before trading. The central bank is opening the proposal for public consultation until August 24.