Russia's Crypto Law Takes Effect, Capping Annual Purchases at $3,500

Russia's first comprehensive cryptocurrency trading law took effect on September 1, creating a regulated market for digital asset purchases, custody, and cross-border settlements.

The law caps annual crypto purchases for non-qualified investors at 300,000 rubles (about $3,500) per intermediary while giving qualified investors unlimited access.

The Bank of Russia has proposed Bitcoin, Ethereum, and Tether's USDT as the first cryptocurrencies eligible for regulated trading. Exchanges must hold minimum equity of 15 million rubles and join an approved financial-market self-regulatory organisation.

Retail Limits and Qualification Routes Non-qualified investors must pass a mandatory suitability test before purchasing and are limited to the most liquid cryptocurrencies meeting a minimum five-year price history requirement.