Bank of Russia Proposes Bitcoin, Ethereum, and USDT Trading for Retail Investors

The Bank of Russia has proposed a new framework that would permit retail investors to trade Bitcoin, Ethereum, and Tether's USDT on the country's crypto exchanges. According to a statement released on Tuesday, the central bank aims to allow non-qualified investors to purchase up to 300,000 rubles (approximately $3,632) of eligible cryptocurrencies annually from intermediaries such as brokers and exchanges.

The selection of these cryptocurrencies is based on their market capitalization, average daily trading volumes, and a minimum five-year pricing history on foreign exchanges. The Bank of Russia emphasizes that these restrictions are designed to protect retail investors from the volatility associated with crypto assets.

Under the proposed rules, qualified investors would not face the same purchase limits and could trade a broader range of cryptocurrencies available on both exchange and over-the-counter markets. Additionally, all investors will be required to undergo testing and review the risks associated with crypto investments prior to engaging in transactions.

The draft directive is currently open for public feedback until August 24, as Russia continues to navigate the complexities of cryptocurrency regulation.