Russia Will Allow Trading in Bitcoin, Ethereum, and USDT

Russia's Central Bank has introduced new regulations that will allow retail investors to purchase cryptocurrency, though an annual limit will be imposed on them.

According to the project, non-qualified investors will be able to buy Bitcoin, Ethereum, and USDT. The annual limit through each broker, crypto exchange, or management company will be 300,000 rubles.

For retail investors, initially only three cryptocurrencies will be available: Bitcoin, Ethereum, and USDT. According to the Central Bank's explanation, they are among the most liquid crypto assets on the market and have a long trading history. XRP did not make the list, though the bank has not disclosed the reason for this.

This restriction will not apply to qualified investors, and they will also be able to trade other cryptocurrencies, though all investors will be required to pass a special test before executing transactions.

Russia's Central Bank will accept comments on the project until August 24. The new rules will come into force 10 days after official publication.

Source: Investing.com