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Russia Approves Bitcoin, Ethereum and Tether for Public Trading

Bitcoin, Ethereum and Tether coins with Russian flag in background

Russia is preparing to open regulated cryptocurrency trading to ordinary investors. The Central Bank of Russia has approved Bitcoin, Ethereum, and Tether’s USDT for public trading on licensed exchanges.

The move comes as the country prepares to implement new rules governing cryptocurrency transactions. The new framework is expected to take effect on September 1.

Russia Whitelists BTC, ETH and USDT

The Central Bank of Russia has included Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) on its list of cryptocurrencies available to non-qualified investors.

A draft directive published by the central bank outlines how ordinary investors will access digital currencies under the new regulatory framework. The public consultation period will remain open until August 24.

Under the proposed rules, investors will be able to purchase the three cryptocurrencies through CBR-approved intermediaries. These include brokers, exchanges, and asset managers.

However, ordinary investors will face limits on how much they can purchase. The annual investment limit is set at 300,000 rubles, worth slightly more than $3,600 at current exchange rates.

The central bank said the restrictions aim to protect investors from sharp and unpredictable cryptocurrency price movements.

Strict Rules Determine Which Cryptocurrencies Qualify

Russia has established specific requirements for cryptocurrencies that can be offered to non-professional investors.

A cryptocurrency must have maintained an average market capitalization above 5 trillion rubles, or more than $60 billion, over the previous two years. It must also record an average daily trading volume above 1 trillion rubles during the same period.

In addition, the cryptocurrency must have at least five years of trading history on foreign exchanges.

The Central Bank of Russia said Bitcoin, Ethereum, and USDT currently meet these requirements.

Qualified investors will face fewer restrictions. They will be allowed to purchase other cryptocurrencies available on Russian exchanges and over-the-counter markets.

New Crypto Rules Take Effect in September

The approval follows the passage of Russia’s new legislation covering digital currencies and digital rights. Parliament approved the legislation in July, while President Vladimir Putin signed it in early August.

The law is scheduled to take effect on September 1. The central bank is also preparing additional rules covering cryptocurrency exchanges, custody, storage, and margin trading.

Investors will still need to complete testing before making cryptocurrency transactions. The testing will apply regardless of whether an investor is classified as qualified or non-qualified.

Despite the new framework, public interest remains uncertain. A recent survey found that nearly 70% of Russians do not expect significant cryptocurrency use cases under the country’s new rules.

Russia’s decision to allow Bitcoin, Ethereum, and USDT for public trading nevertheless marks a major step toward regulated crypto access. The upcoming rules will determine how widely ordinary investors use these assets once the framework takes effect.

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