Russia Sets Stage for Crypto Regulation with Draft Bitcoin, Ethereum, and Tether Rules

Russia is taking significant steps towards regulating cryptocurrencies, as the Central Bank has prepared a draft regulation for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

The bank aims to protect investors from sharp price movements by limiting purchases of these assets to unqualified buyers. According to the regulation, such investors can purchase up to 300,000 rubles' worth of cryptocurrencies per year.

However, qualified investors will not face any quantity restrictions and will be able to buy all cryptocurrencies traded on exchanges and over-the-counter markets without limitations. The Central Bank has also specified that when selecting cryptocurrencies for public trading, market capitalization, average daily trading volume, and price history are taken into account.