Russia moves to restrict retail crypto trading to bitcoin, ether and USDT
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Summary
Russia’s central bank announced it will restrict retail crypto trading on regulated exchanges to bitcoin, ether, and USDT starting September 1. The new rules limit non-qualified investors to 300,000 rubles (about $3,600) in annual purchases per intermediary, while qualified investors face no such limit. These rules clarify legislation passed in July that allowed regulated crypto trading but did not specify eligible assets. Crypto payments remain prohibited under current Russian law.
Why it matters
The development matters as it imposes clear limits on retail crypto activity, potentially reducing risk exposure for non-qualified investors by capping their annual purchases per intermediary. This selective approval of only three crypto assets—bitcoin, ether, and USDT—reflects a cautious regulatory approach toward retail crypto markets in Russia. The allowance of regulated trading starting September 1 marks a significant policy shift with specific asset and transaction limits.
Key context
In July, Russia passed legislation enabling regulated crypto trading starting September 1 but did not specify which crypto assets retail investors could access. This new directive fills that gap by specifying bitcoin, ether, and USDT as approved tokens for retail trading on regulated exchanges. Although trading is permitted within these parameters, crypto payments remain banned. The new rules set purchase limits on a per-intermediary basis, which can allow larger total purchases across multiple brokers or exchanges.
Key numbers and entities
The Russia central bank is the regulatory authority imposing these rules. The retail purchase limit for non-qualified investors is 300,000 rubles annually per intermediary, equal to roughly $3,600. Approved cryptos are bitcoin (BTC), ether (ETH), and Tether (USDT). The legislation permitting regulated crypto trading was passed in July, effective September 1.
What remains unclear
The source does not flag open questions or detail the criteria that distinguish qualified from non-qualified investors. It also does not specify whether future changes might expand the list of approved cryptos or modify payment restrictions.