Russia to Limit Retail Crypto Trading to Bitcoin, Ether, and USDT

The Central Bank of Russia is implementing restrictions on retail cryptocurrency trading, allowing only bitcoin, ether, and Tether (USDT) starting September 1.

Investor Purchase Restrictions

Non-qualified investors will be subject to an annual purchase cap of 300,000 rubles (around $3,600) per intermediary. Conversely, qualified investors will not have any purchasing limits.

This regulation builds on legislation passed in July, which permitted regulated cryptocurrency trading but left the specific assets available for retail investors undefined. It's important to note that crypto payments remain illegal in Russia under current laws.

The 300,000-ruble limit applies to each intermediary, allowing investors to potentially increase their exposure by utilizing multiple brokers or exchanges. The approved tokens for trading are bitcoin, ether, and USDT, with USDT being the only stablecoin on the list.