The Bank of Russia has named the first cryptocurrencies that will be made available to non-qualified investors on the country’s regulated market: Bitcoin, Ethereum, and the Tether USDT stablecoin. Under the new framework, retail investors will be able to purchase these assets after passing a proficiency test, with an annual cap of 300,000 rubles per intermediary – whether a broker, crypto exchange, or asset manager. The provisions are set out in the Central Bank’s draft directives.
Qualified investors will face no such limit and will be permitted to buy any cryptocurrencies approved for exchange and over-the-counter trading. Notably, the 300,000-ruble ceiling applies separately to each intermediary, rather than to the investor as a whole, meaning that individuals could in theory spread their purchases across multiple brokers or exchanges to increase their total exposure. The Central Bank selected Bitcoin, Ethereum, and USDT based on their high market capitalization, liquidity, and comparatively long track record in the market.
The new rules effectively create a legal, mainstream channel for buying cryptocurrencies through Russia’s conventional financial infrastructure – something that brokers and exchanges had previously been barred from offering to ordinary clients. The broader law regulating cryptocurrencies takes effect on September 1, 2026, though using digital assets to pay for goods and services within Russia will remain prohibited. Instead, crypto is being legalized primarily as an investment vehicle and a tool for cross-border settlements.