Bank of Russia to let retail investors buy Bitcoin, Ether and USDT from Nov. 17
In brief
- Bank of Russia approves Bitcoin, Ethereum and USDT for non-qualified investors from Nov. 17.
- Retail purchases capped at 300,000 rubles per year for each intermediary.
- Qualified investors are exempt and can access any cryptocurrency without limits.
- All investors must pass an assessment test and review crypto risks before transacting.
- Crypto Briefing reported the details from the central bank's Friday statement.
How retail access works
Retail investors will be able to reach the approved assets through brokers, asset managers and crypto exchanges, including over-the-counter transactions, the central bank said, as reported by Crypto Briefing. Exchanges will be allowed to offer them for public trading.
The ceiling is modest. Purchases are capped at 300,000 rubles per year for each intermediary a buyer uses, according to the report.
Qualified investors aren't bound by that cap.
They're exempt from the restrictions and can access any cryptocurrency without limits. Both groups still have to complete an assessment test and review the risks of crypto investments before they transact (that requirement applies to retail and qualified investors alike, per the central bank's statement as reported by Crypto Briefing).
How the list was chosen
The Bank of Russia said the approved list contains only the most liquid digital assets, selected using criteria set out in legislation. Those criteria include market capitalization and average daily trading volume, plus at least five years of pricing data from international exchanges.
Three assets made the cut for non-qualified buyers. That's a short list for a retail framework, and it's the one the central bank has published so far.
Crypto Briefing described the move as Russia aiming to balance innovation with caution by regulating crypto trading for retail investors. That's the outlet's characterization, not language from the central bank.
What we couldn't check
LeoDex News couldn't independently review the Bank of Russia directive. The Nov. 17 start date, the asset list, the 300,000-ruble cap, the assessment test and the qualified-investor exemption all come from the central bank's Friday statement as reported by Crypto Briefing, and we haven't described the directive's text beyond what that report contains.
Frequently asked questions
How much crypto can retail investors in Russia buy under the new rules?
Retail purchases are capped at 300,000 rubles per year for each intermediary, according to the Bank of Russia's statement as reported by Crypto Briefing. Qualified investors are exempt from that restriction and can access any cryptocurrency without limits.
Why did the Bank of Russia approve only Bitcoin, Ethereum and USDT?
The central bank said the approved list contains only the most liquid digital assets, selected using criteria set out in legislation. Those criteria include market capitalization, average daily trading volume and at least five years of pricing data from international exchanges, Crypto Briefing reported.
When does Russia's retail crypto framework start and what do investors need to do first?
The framework starts Nov. 17, according to the Bank of Russia as reported by Crypto Briefing. Both qualified and non-qualified investors must complete an assessment test and review the risks of crypto investments before transacting.
