Russia's central bank has authorized retail investors to trade crypto assets such as Bitcoin and Ethereum on exchanges, following the earlier passage of the country's market structure legislation.
Retail Trading Details
In a release, the central bank announced that retail investors will be able to trade Bitcoin, Ethereum, and USDT on exchanges starting November 17. "From then on, exchanges will be authorized to admit these assets to public trading," the release said.
Retail investors can buy these crypto assets through intermediaries such as brokers, managers, or crypto exchanges. The purchase limit per intermediary will be 300,000 rubles annually, equivalent to around $3,700. Institutional investors will have no limits and can also trade through top crypto exchanges.
Selection Criteria
The central bank said the selected assets are the most liquid. "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," the bank said. It added that this approach aims to reduce risks for retail investors when trading crypto assets.
Legislative Context
The move comes months after Russia passed its crypto legislation, providing regulatory clarity for the industry. In addition to crypto transactions, the legislation addresses crypto tax, mining, issuance, and ownership.
Meanwhile, crypto legislation in the U.S. remains stalled, with the CLARITY Act yet to become law. The market structure legislation faces more uncertainty as Democrats, who have largely opposed it, take control of Congress following the midterm elections. Polymarket data shows only a 3% chance the CLARITY Act will become law this year.
