MOSCOW, August 11. /TASS/. The Bank of Russia has included Bitcoin, Ethereum, and Tether USDT in the list of cryptocurrencies available for public trading on exchanges, the regulator's Telegram channel reported.
TASS has compiled the main information, which has become known so far.
Cryptocurrencies
- The Bank of Russia has included Bitcoin, Ethereum, and Tether USDT in the list of cryptocurrencies available for public trading on exchanges, the regulator's Telegram channel says.
- According to the law, when selecting cryptocurrencies, their market capitalization, average daily trading volume, and pricing history on foreign exchanges are taken into account.
Limit on cryptocurrency purchases for non-qualified investors
- The Central Bank has also set a limit on cryptocurrency purchases for non-qualified investors.
- They will be able to purchase such assets from each intermediary – broker, crypto exchange, or manager – up to 300,000 rubles ($3,632) per year.
- According to the regulator, to protect non-qualified investors from sharp and unpredictable fluctuations in cryptocurrency prices, only the most liquid cryptocurrencies will be available to them.
- However, qualified investors will be able to purchase all cryptocurrencies traded on exchange and over-the-counter markets without restrictions.
Bank requests
- Some large banks have begun to request more clarification from corporate clients regarding the economic rationale for cryptocurrency and stablecoin transactions, particularly USDT, as well as information about their counterparties in this area, RBC reports, citing two sources in the banking market and a source in the crypto exchange industry.
- A source in the banking market confirmed that at least two banks servicing foreign economic activities have sent such requests.
- Sovcombank also informed RBC that some clients have partially requested such information.
- Business associations confirmed to RBC that this trend has indeed emerged, but such requests from banks are not widespread yet.
Digital currency regulation
- On August 4, Russian President Vladimir Putin signed a law that comprehensively regulates the circulation of digital currencies and digital rights in the country for the first time. - The document establishes the operating rules for crypto exchangers, digital depositories, and market participants, and defines the terms for investors to purchase cryptocurrencies.
- Only organizations included in a special registry will be able to conduct digital currency exchange activities.
- The law retains the ban on the use of digital currencies and digital rights as a means of payment in Russia.
- However, a number of exceptions are provided.
- The use of digital currencies is permitted: for settlements under foreign trade contracts between residents and non-residents; for the use of cryptocurrencies obtained through mining; for the payment of commissions stipulated by the rules of the relevant information system; for settlements for securities, other digital currencies, or digital rights.
- Qualified and non-qualified investors will be required to undergo special testing.
- The core provisions of the law will take effect on September 1, 2026.
- However, certain clauses such as regulations restricting money transfers and operational frameworks for non-resident digital depositories will come into force later on July 1, 2027.
- Technical provisions governing the issuance and circulation of digital financial assets (DFAs), alongside requirements for nominal holders of DFAs and depositories will come into force on September 1, 2027.
- A transitional period until March 1, 2027, is provided for existing digital financial asset exchange operators.