Russia Weighs Letting Retail Investors Trade Bitcoin, Ethereum and USDT Under New Draft Rules
AI Market Summary
Russia's central bank has drafted rules to allow retail crypto trading via regulated intermediaries, initially permitting only BTC, ETH, and USDT, with strict annual purchase caps for nonqualified investors and mandatory risk testing. The move signals incremental regulatory normalization and potentially broadens compliant access and liquidity, though limits constrain near-term flows. Exclusion of other tokens (e.g., XRP) reinforces a liquidity-and-history filter that may shape listing expectations.
Impact level
● Medium
Affected assets
BTC/USDT-0.50%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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CoinDesk reports that the Bank of Russia has released a draft framework that would, for the first time, allow retail investors to access publicly traded cryptocurrency transactions under regulated conditions.
Under the proposal, nonqualified investors would be permitted to buy digital assets via brokers, crypto exchanges or asset managers, subject to an annual purchase cap. The central bank's explanatory note says nonqualified investors could purchase up to 300,000 rubles worth of crypto per year through each intermediary. The draft also sets a 300,000-ruble annual cumulative cap for cryptocurrencies bought via brokers. Qualified investors would not face this limit and could trade all cryptocurrencies available on exchanges and over-the-counter markets.
Regardless of status, all individuals would need to pass a test and formally acknowledge the risks of investing in crypto assets before trading.
At the outset, the list of tokens approved for public trading on organized platforms would be limited to three: Bitcoin, Ethereum and Tether's USDT. The central bank tied the scope to a federal law on digital currencies signed this month. Eligibility criteria referenced in the draft include market capitalization, average daily trading volume and at least five years of price history on overseas platforms. The regulator said restricting access for nonqualified investors to the most liquid cryptocurrencies is intended to curb risks from sharp price swings.
XRP is not included in the initial list. The draft's screening criteria indicate it could theoretically qualify, but the report notes its prior delistings linked to the U.S. Securities and Exchange Commission's lawsuit against Ripple, followed by later relistings, may weigh on the pace of inclusion.
The Bank of Russia said the public comment period for the draft runs through Aug. 24. The rules would take effect 10 days after official publication, to be signed by central bank governor Nabiullina.
