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.

New Developments in Cryptocurrency Regulation in Russia

• Russia has enacted a regulatory framework allowing the use of Bitcoin, Ethereum, and USDT for cross-border transactions.
• XRP has been explicitly excluded from the list of approved digital assets.
• The new law, managed by the Bank of Russia, establishes licensed conditions for the use of digital currencies.
• Digital currencies are banned as a domestic payment method under this framework.
• The exclusion of XRP indicates a regulatory focus on assets with greater liquidity and established histories.
• Market activity suggests that XRP’s exclusion may lead to decreased expectations for significant price surges in the near future.
• Observers are monitoring potential regulatory developments that could further impact XRP or other cryptocurrencies.

New Developments in Russian Crypto Regulation

Russia’s central bank has officially approved Bitcoin, Ethereum, and Tether’s USDT for public retail access on domestic exchanges, while notably excluding XRP from the list.

This decision is part of a broader framework under Russia’s new licensed crypto market regime, which imposes specific criteria for retail investors, including:

• Using approved intermediaries
• Passing a risk assessment test
• Adhering to a 300,000-ruble annual cap per intermediary

The regulatory body cited market capitalization, daily volume, and history as key considerations for approving the cryptocurrencies.

Despite XRP's integration into Russia’s institutional offerings, it remains unavailable for retail access. Market participants interpret this exclusion as indicative of ongoing regulatory challenges for XRP.

Pricing in XRP-related markets has reflected decreased confidence, with the likelihood of XRP reaching $3.00 in August dropping to 0.5% from 1% in the past 24 hours.

Market observers will be closely monitoring any further regulatory developments in Russia that might impact XRP’s status, including potential announcements from Ripple Labs.