Russia Proposes Regulated Trading for Bitcoin, Ether, and Tether's USDT

Russia's central bank has proposed allowing Bitcoin, Ether, and Tether's USDT to trade on regulated exchanges, following a new law signed by President Vladimir Putin last week.

The proposal comes after the Bank of Russia compiled a list of crypto assets that could be admitted to public trading on exchanges under new rules approved last week. The list includes Bitcoin, Ether, and Tether's stablecoin USDT, which meet criteria such as market capitalization, average daily trading volume, and at least five years of price history on overseas markets.

The proposal follows a law signed by President Putin on August 4 that gives the Bank of Russia authority to determine which digital currencies can be admitted to organized trading and set related rules. Under these new rules, non-qualified investors could buy up to 300,000 Russian rubles ($3,650) worth of cryptocurrency per year through each intermediary.

The central bank said the restrictions are designed to protect non-qualified investors from sharp and unpredictable fluctuations in crypto prices. All investors will have to pass a test and familiarize themselves with the risks of investing in crypto assets before making transactions.