Russia · Bitcoin · Ethereum · CryptoSlate
Russia picks Bitcoin, Ethereum and USDT for public trading as retail runs into $58,000 cap
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The Bank of Russia has proposed opening public organized crypto trading with only Bitcoin, Ethereum, and Tether’s USDT eligible for admission.
Key facts
- Bitcoin is -0.24% over the past 24 hours and currently sits at rank # 1 by market cap
- Under the draft directive, a Russian resident who is not a qualified investor could spend up to ₽300,000, nearly $58,000, on cryptocurrency through a single broker in a calendar year
- Russia’s underlying cryptocurrency market law is scheduled to take effect on Sept. 1, with the proposed directive taking effect 10 days after official publication
- The Aug. 24 deadline is the immediate decision point for the organized-trading gate
Summary
01 Bank of Russia proposed public organized crypto trading limited to Bitcoin, Ethereum, and USDT. 02 Non-qualified Russian residents could spend up to ₽300,000 per broker yearly, while qualified investors face broader access. 03 The draft is open until Aug. 24, and the central bank can still change the asset list, cap, or final timing. Under the draft directive, a Russian resident who is not a qualified investor could spend up to ₽300,000, nearly $58,000, on cryptocurrency through a single broker in a calendar year.