The Central Bank has added Bitcoin, Ethereum, and Tether USDT to the list of cryptocurrencies available for public trading on Russian exchanges

The Central Bank has added Bitcoin, Ethereum, and Tether USDT to the list of cryptocurrencies available for public trading on Russian exchanges

A statement on the Central Bank’s website says that qualified investors “will be able to purchase all cryptocurrencies traded on exchange and over-the-counter markets without restrictions.”

“Before carrying out transactions, all investors regardless of status will have to pass a test and review the risks of investing in crypto assets,” the regulator said.

The Central Bank also set a limit on cryptocurrency purchases for non-qualified investors. With each intermediary — a broker, crypto exchange service, or asset manager — they will be able to buy such assets for up to 300,000 rubles per year.

In July, the State Duma passed a law legalizing cryptocurrency circulation in Russia. The law defines what cryptocurrency may be used for in the Russian Federation. For most Russians, it will be available only as an investment instrument; using it for payments in Russia will still be prohibited. Exceptions will be made only for participants in foreign economic activity and crypto exchange services.

Russians will be able to buy cryptocurrency on exchanges through brokers and asset managers. Only coins with high market capitalization and liquidity, as well as a long pricing history, will be traded on Russian exchanges. The Central Bank had clarified that so far only bitcoin (Bitcoin), ethereum (Ethereum), and the stablecoin USDT meet these requirements.

@meduzalive