Russia's Central Bank to Allow Bitcoin, Ethereum, and USDT in Public Trading
The Bank of Russia has included Bitcoin, Ethereum, and Tether USDT in the list of cryptocurrencies for public circulation. Non-qualified investors will be able to buy them within a limit of 300,000 rubles per year.
AI will summarize what happened, why it matters and what it means for business.
The Bank of Russia has included Bitcoin, Ethereum, and Tether USDT in the list of cryptocurrencies available for public trading on exchanges, according to a statement from the regulator.
Under the Central Bank's draft directive, these assets can be purchased by non-qualified investors from each intermediary - broker, crypto exchanger, or manager - within a limit of 300,000 rubles per year.
"To protect non-qualified investors from sharp and unpredictable fluctuations in cryptocurrency exchange rates, only the most liquid of them will be available," the Central Bank noted.
Qualified investors will be able to purchase all cryptocurrencies that will be traded on the exchange and over-the-counter markets without restrictions.
Before making transactions, all investors, regardless of their status, will need to undergo testing and familiarize themselves with the risks of investing in crypto assets, the regulator reminded.
Comments and suggestions on the document are accepted until August 24 inclusive.
THE WHOLE PICTURE
Understand the story
The essentials in one minute
BeforeEarlier
The Central Bank developed a draft directive on including Bitcoin, Ethereum, and Tether USDT in the list of cryptocurrencies for public circulation
Now
The Bank of Russia has included Bitcoin, Ethereum, and Tether USDT in the list of cryptocurrencies available for public trading on exchanges.
Next
The document is under discussion; comments are accepted until August 24. After approval, the rules will come into force.