Russia's Central Bank Proposes Allowing Bitcoin, Ethereum, and USDT for Exchange Trading

Quick summary

The Central Bank of Russia has proposed permitting the trading of Bitcoin, Ethereum and USDT on exchanges, with restrictions limiting unqualified investors to these three assets. The selection of cryptocurrencies is based on market capitalization, trading volume and five-year pricing history.

Why it matters

If the directive is adopted, Russian retail investors will gain legal access to the three largest cryptocurrencies through official exchanges. Qualified investors will be able to trade a broader spectrum of crypto assets without restrictions, however all will be required to pass mandatory testing on risk knowledge.

Key takeaways

• ›Russia's Central Bank has proposed a draft directive listing Bitcoin, Ethereum, and Tether USDT as the only cryptocurrencies approved for public exchange trading.
• ›Retail investors will be restricted to those three assets; qualified investors face no such limits on exchange or OTC markets.
• ›All investors — retail and qualified alike — must pass a suitability test before trading crypto assets.