Russia’s Central Bank Proposes Bitcoin, Ether, and USDT for Regulated Exchange Trading

Russia’s central bank has released a proposed list of cryptocurrencies eligible for public trading on regulated exchanges, naming Bitcoin, Ether, and Tether’s USDT stablecoin as the initial candidates. According to the Bank of Russia, these assets meet specific criteria, including market capitalization, average daily trading volume, and at least five years of price history on international markets.

New Legal Framework Enables Oversight

The proposal follows a law signed by President Vladimir Putin earlier this month, granting the central bank authority to decide which digital currencies can be admitted to organized trading and to establish related rules. Under the framework, non-qualified investors would be limited to purchasing up to 300,000 rubles, roughly $3,650, worth of cryptocurrency per year through each individual intermediary, such as a broker or exchange. Qualified investors, by contrast, would face no purchase limits on assets traded through exchanges or over-the-counter markets.

Investor Protections Built Into the Rules

Before making any transactions, all investors regardless of status will be required to pass a test and review the risks associated with crypto investing, according to the central bank. Officials said the purchase limits are intended to protect less experienced investors from sharp and unpredictable price swings in the crypto market. The Bank of Russia is accepting public comments on the proposal until August 24.