Russia’s central bank approves Bitcoin, Ether and USDT trading for retail investors
CryptoBriefing
Russia aims to balance innovation with caution by regulating crypto trading for retail investors.
The Bank of Russia will allow non-qualified investors to buy Bitcoin, Ethereum and USDT under a new crypto investment framework starting Nov. 17.
Under the directive, exchanges will be permitted to offer the approved assets for public trading, the central bank said Friday.
Retail investors will be able to access the cryptocurrencies through brokers, asset managers and crypto exchanges, including through over-the-counter transactions. However, purchases will be capped at 300,000 rubles per year for each intermediary.
Qualified investors will be exempt from these restrictions and can access any cryptocurrency without limits. Both categories of investor must complete an assessment test and review the risks of crypto investments before entering transaction.
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The central bank said the approved list contains only the most liquid digital assets, selected using criteria set out in legislation. These include market capitalization, average daily trading volume and at least five years of pricing data from international exchanges.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
