Russia Proposes Regulated Trading for Bitcoin, Ethereum, and USDT

Russia's central bank has proposed allowing Bitcoin, Ethereum, and USDT on regulated exchanges, marking a significant step towards regulated crypto trading in the country.

The proposal follows a new law that gives the Bank of Russia authority to decide which digital currencies can enter organized markets. The regulator selected these three assets using market capitalization, average daily trading volume, and price history on foreign exchanges.

Under the draft rules, non-qualified investors could buy up to 300,000 rubles worth of eligible crypto each year through each intermediary, including brokers, crypto exchanges, and asset managers. Retail investors would face annual purchase limits for these assets, while qualified investors would not be subject to the same restriction.

The central bank aims to protect non-qualified investors from sharp cryptocurrency price movements by requiring all investors to complete a test before trading crypto assets and review the risks linked to cryptocurrency investments.