Russia finalises rules for retail crypto trading ahead of 17 November launch

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The Bank of Russia has finalised rules allowing domestic financial firms to offer Bitcoin, Ether and Tether’s USDT to retail investors from 17 November.

Under the new framework, non-qualified investors will be able to buy up to 300,000 roubles (around $3,700) in cryptocurrencies per year through each intermediary, including brokers, asset managers and crypto exchange providers. Qualified investors will face no purchase limits. All customers must pass a mandatory test before trading.

The rules follow legislation signed by President Vladimir Putin on 4 August to establish a regulated cryptocurrency market under central bank supervision.

The Bank of Russia published draft regulations on 11 August, listing Bitcoin, Ether and USDT as eligible assets based on their market capitalisation, average daily trading volumes and at least five years of price history on foreign exchanges.

The law took effect on 1 September. In October, the central bank authorised Sberbank, Russia’s largest bank, to provide cryptocurrency exchange services.