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Russia limits retail crypto trading to bitcoin, ether and USDT

The central bank rules take effect September 1 and set a 300,000-ruble annual purchase cap for non-qualified investors per intermediary, while qualified investors face no limit.

Reported · Written up by our desk · Regulation

CoinDesk reports that Russia’s central bank is moving to restrict retail crypto trading on regulated exchanges to three tokens, bitcoin, ether, and USDT, starting September 1. Under the draft rules, non-qualified investors would be limited to buying up to 300,000 rubles (about $3,600) of crypto per year at each intermediary. Qualified investors would not face a cap, according to the coverage.

The whitelist also specifies that USDT is the only stablecoin included on the initial list of permitted assets. The rules provide added details to legislation passed in July that allowed regulated crypto trading from September 1 but did not name which tokens retail investors could trade.

CoinDesk adds that crypto payments inside Russia remain prohibited under current law. The draft wording also ties the limit to each intermediary rather than an investor’s total purchases, which could allow higher aggregate exposure if multiple brokers or exchanges are used.

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