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Bank of Russia proposes Bitcoin, Ethereum, and USDT trading
The Bank of Russia has proposed a new regulatory framework to allow the trading of Bitcoin, Ethereum, and Tether (USDT) on regulated domestic exchanges. This follows legislation signed by President Vladimir Putin on August 4, which establishes rules for digital asset circulation, including trading, custody, and conversion.
The proposal introduces a tiered system for investors. Non-qualified retail investors would be subject to an annual purchase cap of 300,000 rubles (approximately $3,650) per intermediary, such as a broker or exchange. To mitigate volatility risks, these investors must also pass a mandatory risk knowledge test. In contrast, qualified investors would be permitted to trade eligible digital assets on both exchanges and over-the-counter markets without purchase limits.
To qualify for the approved list, assets must meet specific criteria, including high market capitalization, significant average daily trading volume, and a minimum of five years of price history on foreign exchanges. Notably, XRP is excluded from the current list of approved assets. While the framework permits the use of these cryptocurrencies for cross-border settlements, they remain prohibited as a domestic means of payment within Russia. The public consultation period for the draft regulations is open until August 24, with the regime intended to take effect around September 1.
Entities
Bank of Russia · Bitcoin · Central Bank of Russia · Ethereum · Russia · Tether · Vladimir Putin
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 11 SOURCES] Non-qualified retail investors face an annual purchase cap of 300,000 rubles (approximately $3,650) per intermediary. bitcoinethereumnews.com · crypto.news · cryptonews.com.au · en.bitcoinsistemi.com · www.blocktempo.com · +6 more
- [DISPUTED] Qualified investors are permitted to trade digital assets without purchase limits on exchanges or over-the-counter markets. bitcoinethereumnews.com · crypto.news · cryptonews.com.au · en.bitcoinsistemi.com · www.blocktempo.com · +5 more
- [● 3 SOURCES] Cryptocurrencies are permitted for cross-border settlements but remain banned as a domestic means of payment in Russia. cryptonews.com.au · cryptobriefing.com · bitcoinmagazine.com
- [● 4 SOURCES] XRP is excluded from the list of approved cryptocurrencies for trading under the new framework. www.mondialnews.com · cryptonews.com.au · www.cointrust.com · cryptobriefing.com
- [● 11 SOURCES] The public consultation period for the draft cryptocurrency regulations is open until August 24. bitcoinethereumnews.com · blockzeit.com · crypto.news · cryptonews.com.au · www.blocktempo.com · +6 more
- [● 7 SOURCES] Eligible assets must meet criteria including market capitalization, trading volume, and a five-year price history on foreign exchanges. blockzeit.com · crypto.news · cryptonews.com.au · en.bitcoinsistemi.com · www.blocktempo.com · +2 more
- [● 19 SOURCES] The Bank of Russia has proposed allowing Bitcoin, Ethereum, and Tether (USDT) to be traded on regulated exchanges. www.mondialnews.com · bitcoinethereumnews.com · blockzeit.com · crypto.news · cryptonews.com.au · +14 more
- [DISPUTED] All investors are required to pass a risk knowledge test before engaging in cryptocurrency transactions. crypto.news · cryptonews.com.au · www.dunya.com · www.yenicaggazetesi.com · ekonomi.haber7.com · +2 more