Russia approves Bitcoin, Ether, USDT for exchange trading

Russia’s central bank has approved Bitcoin, Ether, and Tether USDT for public trading on domestic exchanges under a regulation taking effect on Nov. 17.

The directive, published Friday, establishes a list of digital assets that trading organizers may admit to public trading and sets an annual purchase limit for investors without qualified status.

Non-qualified investors will be able to purchase assets worth up to 300,000 rubles ($3,660) per calendar year through each broker.

The regulation lists Bitcoin and Ether, the native cryptocurrency of the Ethereum network, as eligible digital currencies. It separately includes Tether USDT in the same list under the category of foreign digital instruments.

In an earlier explanation of the framework, the Bank of Russia said non-qualified investors would have access only to the most liquid cryptocurrencies to limit their exposure to sharp and unpredictable price swings.

Selection criteria include market capitalization, average daily trading volume, and a price history of at least five years on foreign trading platforms.

Qualified investors will be able to purchase cryptocurrencies traded on exchanges and over-the-counter markets without purchase limits, according to the central bank.

All investors, regardless of their status, will be required to undergo testing and familiarize themselves with the risks of investing in crypto assets before conducting transactions.