Russia’s Central Bank Proposes Regulated Trading for Bitcoin, Ether, and USDT as New Crypto Market Framework Takes Shape

Russia’s Central Bank Proposes New Crypto Trading Framework: Bitcoin, Ether, and USDT in the Spotlight

In a significant move towards embracing digital currencies, Russia’s central bank has proposed allowing Bitcoin, Ether, and Tether’s USDT to trade on regulated exchanges. This initiative comes as the country gears up to implement its new crypto market framework, set to take effect on September 1.

New Regulations for Investors

Under the proposed regulations, non-qualified investors will face an annual purchase limit of 300,000 rubles (approximately $3,650) through each intermediary. To ensure informed trading, these investors must also pass a risk knowledge test before engaging in any transactions. In contrast, qualified investors will not have purchase limits but will still be required to complete the same testing.

The central bank’s proposal follows the signing of a new digital currency law by President Vladimir Putin on August 4, which grants the Bank of Russia the authority to determine which cryptocurrencies can be traded on organized markets.

Criteria for Inclusion

The Bank of Russia stated that Bitcoin, Ether, and USDT were included in the proposed list based on their market capitalization, trading activity, and price history in international markets. These cryptocurrencies have demonstrated sufficient market size, average daily trading volume, and a minimum of five years of trading history outside Russia.

The central bank is currently accepting public comments on the proposed list until August 24, providing an opportunity for stakeholders to weigh in on the future of crypto trading in the country.

A Controlled Environment

The new regulations aim to create a controlled environment for crypto trading, particularly for retail investors. The 300,000-ruble cap is designed to limit exposure to the volatile nature of cryptocurrencies. The Bank of Russia emphasized the importance of investor education, stating, “Before making transactions, all investors, regardless of their status, will have to pass a test and familiarize themselves with the risks of investing in crypto assets.”

Infrastructure and Compliance

To facilitate this new trading environment, crypto exchange providers must register with the Bank of Russia, maintain a minimum equity of 15 million rubles, and join an approved financial-market self-regulatory organization. Existing exchanges have until July 1, 2027, to comply with these registration requirements.

Major Russian banks, including Alfa-Bank and Sberbank, are already preparing for the regulated market. Alfa-Bank has begun testing cryptocurrency trading within its brokerage application, while Sberbank is developing a crypto wallet and digital asset depository.

Limitations on Crypto Payments

Despite the opening of regulated trading, the use of cryptocurrencies for domestic payments remains prohibited. The law explicitly states that cryptocurrencies cannot be used for purchasing goods, services, or intellectual property within Russia. However, certain provisions allow for cross-border settlements using eligible digital assets, providing a pathway for international trade.

Looking Ahead

As Russia prepares to launch its regulated crypto market, the inclusion of Bitcoin, Ether, and USDT marks a pivotal step in the country’s approach to digital currencies. With the central bank actively seeking public input and major financial institutions gearing up for compliance, the coming months will be crucial in shaping the future of cryptocurrency trading in Russia. Investors and stakeholders alike are watching closely as the regulatory landscape evolves, setting the stage for a new era in digital finance.