Russia’s central bank is preparing to restrict retail crypto trading on regulated exchanges to three assets at launch: Bitcoin, Ether and USDT. The proposal would make Tether’s dollar-pegged stablecoin the only stablecoin initially available to retail investors.
Under the draft rules, non-qualified investors would be allowed to purchase up to 300,000 rubles, or approximately $3,600, worth of cryptocurrency each year through each intermediary. Qualified investors would not face an annual purchase limit.
The proposed asset list expands on legislation passed in July that is scheduled to introduce regulated crypto trading in Russia from Sept. 1. That legislation did not specify which digital assets would be accessible to retail investors. Cryptocurrency payments within the country would remain prohibited.
The wording of the proposed limit is also significant because the 300,000-ruble cap would apply separately to each broker or exchange rather than covering an investor’s combined purchases.
As a result, investors could potentially increase their overall crypto exposure by using multiple intermediaries, allowing purchases above the nominal annual limit.
