Russia · Bitcoin · Vladimir Putin · Bitcoin Magazine
Russia’s central bank has approved Bitcoin trading for the public on the country’s crypto exchanges, according to reports
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Citing the Bank of Russia’s Telegram channel, news agency Tass reported that the central bank capped cryptocurrency purchases for retail investors at 300,000 rubles ($3,632) per year.
Key facts
- Citing the Bank of Russia’s Telegram channel, news agency Tass reported that the central bank capped cryptocurrency purchases for retail investors at 300,000 rubles ($3,632) per year
- The U.S. and European governments cut Russia off from the SWIFT payments system after it invaded Ukraine in 2022 and Russian companies have been using Bitcoin to skirt around the penalties, according
- President Vladimir Putin has spoken about the benefits of Bitcoin and spoken about how the country has advantages when it comes to crypto mining
- President Putin earlier this month reportedly signed a law to regulate digital currencies and digital rights in the country
Summary
Russia is moving ahead with regulating the Bitcoin and wider digital asset space. Russia’s central bank has approved Bitcoin trading for the public on the country’s crypto exchanges, according to reports. The news comes as Russia moves fast in regulating the crypto space. “According to the law, the selection of cryptocurrencies factors in their market capitalization, average daily trading volume, and foreign exchange pricing history, which must span at least five years for each asset,” TASS reported the Telegram channel saying.