Russia finalizes crypto trading rules ahead of Nov. 17 rollout
The rules allow retail investors to trade BTC, ETH and USDT through regulated intermediaries, with Moscow Exchange planning to launch crypto trading in December.
Russia has finalized rules governing cryptocurrency trading, set to launch on November 17, 2023. The regulations permit retail investors to trade Bitcoin (BTC), Ether (ETH), and Tether USDt (USDT) via licensed intermediaries such as brokers and asset managers. The daily purchase limit for non-qualified investors is capped at 300,000 rubles, approximately $3,700.
Qualified investors face no purchase restrictions but must pass a mandatory test prior to trading. These rules stem from legislation signed by President Vladimir Putin in August 2023, establishing a regulated cryptocurrency market under central bank oversight. Initially, the Bank of Russia authorized Sberbank, Russia's largest bank, to offer crypto exchange services in October 2023.
Moscow Exchange, Russia's largest securities exchange, plans to launch cryptocurrency trading on December 1, 2023, with pilot transactions featuring BTC, ETH, and USDT. While expanding crypto access, Russia is tightening restrictions on unregulated transactions. Direct peer-to-peer crypto trading will be prohibited starting July 1, 2027, and transfers from regulated digital accounts to self-custody wallets are already banned. Additionally, Russia maintains a ban on using cryptocurrency to pay for goods and services.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
