In a Historic Move, the Bank of Russia Officially Approves BTC, ETH, and USDT for Public Trading
In a historic move marking a fundamental shift in Russia's financial policy, the Central Bank of the Russian Federation has officially approved Bitcoin (BTC), Ethereum (ETH), and the dollar-pegged stablecoin (USDT) for public trading. According to the issued directives, this decision will take effect on November 17, paving the way for the launch of the country’s first regulated digital asset market.
🏛️ Opening Doors for Retail Investors
Following years of stringent restrictions that limited cryptocurrency dealings primarily to qualified investors and highly specific use cases, the new regulatory framework opens the door wide.
• Direct Trading: Licensed platforms and exchanges are now authorized to offer direct trading services to a broader segment of market participants.
• Annual Investment Cap: An acquisition ceiling has been set for non-qualified (retail) investors at 300,000 rubles per year (approximately $3,650) per financial intermediary.
• Risk Assessment Testing: All retail investors will be required to pass a proficiency test and acknowledge the risks associated with price volatility before initiating transactions.
🔍 Why These Three Assets Specifically?
The Bank of Russia adopted rigorous selection criteria to determine eligible assets and protect traders. The initial list was limited to Bitcoin, Ethereum, and Tether (USDT) based on:
- High market capitalization.
- Massive average daily trading volumes.
- A pricing history of at least 5 years on international platforms.
🌐 Infrastructure and Sanctions Mitigation
These rapid advancements come at a time when Russia is actively developing its domestic cryptocurrency infrastructure. This move serves as a strategic tool to establish alternative financial channels and alleviate pressures stemming from international sanctions and constraints related to the global SWIFT system. The Moscow Exchange is expected to initiate its first pilot trading operations for these assets by December 1.
#crypto-news #russia #bitcoin #ethereum #usdt #regulation #hive-1x #ecency