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Russia Caps Crypto Buys for Retail Investors
11 Aug
Summary
- Russia's central bank approved Bitcoin, Ethereum, and Tether for trading.
- Non-qualified investors face an annual crypto purchase limit of $3,632.
- Qualified investors can trade cryptocurrencies without any purchase limits.
The Bank of Russia has officially added Bitcoin, Ethereum, and Tether (USDT) to its registry of cryptocurrencies permitted for public trading on exchanges. This decision follows legal criteria, including market capitalization and trading volume over at least five years.
To safeguard retail investors, also known as non-qualified investors, from unpredictable market swings, the regulator has established an annual purchase limit of 300,000 rubles, equivalent to $3,632. This ensures only highly liquid digital assets are accessible to them.
Conversely, investors who meet the 'qualified' criteria will be permitted to engage in cryptocurrency transactions without any spending caps. This measure allows them unrestricted access to any cryptocurrencies available on both exchange and over-the-counter markets.
