The key facts

  • From November 17, Bitcoin, Ether and USDT are admitted to public trading on Russian exchanges
  • Non-qualified investors may buy cryptocurrency worth up to 300,000 rubles ($3,660) per year through each broker
  • All investors are required to take a test and review the risks before making transactions

List of assets and effective date

The Bank of Russia has published a directive allowing public trading of Bitcoin, Ether and Tether USDT on domestic exchanges; the rule takes effect on November 17. The document sets out the list of digital assets that trading organizers may admit to public circulation, as well as an annual purchase limit for investors without qualified status, Anadolu reports.

Limits and selection criteria

Non-qualified investors will be able to purchase assets worth up to 300,000 rubles (about $3,660) per calendar year through each broker. Bitcoin and Ether are included in the list as digital currencies, while USDT is classified as a foreign digital instrument. Earlier, the Central Bank explained that access for non-qualified investors is limited to the most liquid cryptocurrencies in order to reduce their exposure to sharp price swings. The selection criteria include market capitalization, average daily trading volume, and a price history of at least five years on foreign platforms.

Rules for qualified investors

Qualified investors will be able to buy cryptocurrencies traded on exchanges and over-the-counter without limits on purchase volumes. At the same time, all investors, regardless of status, are required to take a test and familiarize themselves with the risks of investing in crypto assets before making transactions.