Russia Proposes Opening Trading for Bitcoin, Ethereum, and USDT

The Bank of Russia has proposed allowing public trading of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) on Russian exchanges. The move, if adopted, would bring the largest cryptocurrencies into the familiar exchange infrastructure for investors.

The selection of these three assets was based on their market capitalization, trading volume, and price history over at least five years. Bitcoin and Ethereum were chosen due to their high market share and liquidity, while Tether was selected for its widespread use as a stablecoin.

Before making any transactions, investors will have to pass a test to confirm they understand the risks associated with trading in cryptocurrencies. This is aimed at protecting unqualified investors from potential losses.

The Central Bank has also proposed capping purchases by ordinary investors at 300,000 rubles per year through each intermediary, broker, crypto exchanger, or manager. Qualified participants will be allowed to buy any admitted cryptocurrencies without such restrictions.