Crypto: Russia changes course and bets on Bitcoin, Ethereum, and USDT

Russia takes a step in its approach to crypto. The Central Bank has just proposed a framework allowing individuals to access three cryptocurrencies on public markets. The project targets Bitcoin, Ethereum, and USDT, with an annual limit for non-qualified investors. This development marks a regulated crypto market opening, while the authorities want to limit exposure to price fluctuations. The system includes conditions for intermediaries and investors before any operation.

In Brief

Russia Regulates Access to the Public Market

After the official adoption of the framework legalizing the digital assets market in Russia, the Central Bank published on August 11 a draft directive dedicated to non-qualified investors. These individuals could buy digital assets via brokers, exchanges, or managers. However, the central bank indicated in a separate statement that crypto would remain subject to an annual ceiling set at 300,000 rubles per intermediary. Thus, each broker, platform, or manager could separately apply this limit to purchases made by the same investor.