Russia Allows Retail Trading of Bitcoin and Top Cryptocurrencies

Russia's central bank has given its approval for Bitcoin and other top cryptocurrencies to be traded on domestic exchanges by retail investors. The move comes after a new digital currencies law was passed, requiring five years of market data for listed assets.

The Bank of Russia capped cryptocurrency purchases at 300,000 rubles ($3,632) per year for retail investors, while allowing qualified investors to trade without limits. Other top cryptocurrencies, including USDT, were also allowed for retail trading.

Russia has been moving quickly to regulate the crypto space, with President Putin speaking about the benefits of Bitcoin and the country's advantages in crypto mining. However, using crypto to pay for goods remains prohibited in Russia.