Bank of Russia Proposes Rules to Allow Bitcoin, Ether, Tether Trading on Official Exchanges From September

3-line summary

• The Bank of Russia published draft rules allowing retail and professional investors to trade Bitcoin, Ether and Tether starting September 1, following legislation that formally legalized crypto trading in the country.
• Retail investors, who make up about 98% of Russia's crypto market participants, must pass a test before trading and face an annual purchase limit of 300,000 rubles ($3,690) per regulated intermediary; accredited investors face no such limits.
• The central bank said the three cryptocurrencies were chosen for having at least five years of price history, high liquidity and large market capitalization; digital assets could be used for cross-border settlements but not as domestic payment.

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