Russia’s Central Bank Approves Bitcoin, Ethereum Trading For Retail Investors - CoinGape
Russia's Central Bank has cleared the way for retail investors to trade Bitcoin, Ethereum, and USDT on exchanges starting November 17.
Russia's Central Bank has cleared the way for retail investors to trade Bitcoin, Ethereum, and USDT on exchanges starting November 17. The bank announced that exchanges will be authorized to admit these assets to public trading, allowing retail investors to purchase them through intermediaries like brokers, managers, or crypto exchanges.
Purchase Limits
Retail investors will face an annual purchase limit of 300,000 rubles (approximately $3,700) per intermediary. In contrast, institutional investors will have no trading restrictions and can access major crypto exchanges without such limitations.
Selection Criteria
The central bank selected these cryptocurrencies based on their liquidity, considering market capitalization, average daily trading volume, and at least five years of pricing history on international exchanges. This approach aims to reduce risks for retail investors when trading crypto assets.
The selection process took into account market capitalization, average daily trading volume, and pricing history on international exchanges, which must be at least five years long.
Global Context
This development follows Russia's passage of comprehensive crypto legislation that provides regulatory clarity for the industry, addressing transactions, taxation, mining, issuance, and ownership. The move contrasts with the stalled crypto legislation in the U.S., where the CLARITY Act faces uncertainty with Democrats opposing it after midterm elections.
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