Bank of Russia Proposes Limited Public Crypto Trading Framework
- Public organized trading will initially allow only Bitcoin, Ethereum, and Tether’s USDT.
- Non-qualified Russian residents can invest up to ₽300,000 (approximately $58,000) annually through a single broker.
- Qualified investors will have broader access to purchase any cryptocurrencies without a spending cap after passing a test.
- The draft directive is open for comments until August 24, with potential amendments before finalization.
- The new cryptocurrency market law is set to take effect on September 1.
This proposed framework aims to regulate public crypto trading in Russia while allowing for controlled participation by non-qualified investors and broader access for qualified ones. The deadline for public comments on the draft directive is approaching, which may influence its final form.
With the annual investment cap of ₽300,000 for non-qualified residents, the Bank of Russia’s initiative marks a significant step towards structured cryptocurrency trading in the country. (Source)
