Russia's Central Bank Restricts Retail Crypto Trading to Bitcoin, Ethereum, and USDT

ChainCatcher report, according to Crypto Briefing, the Central Bank of Russia has rejected proposals to immediately expand access to cryptocurrencies, prohibiting non-qualified investors from trading any cryptocurrencies other than Bitcoin, Ethereum, and USDT. Deputy Governor Vladimir Chistyukhin stated that, upon implementation of the new rules, only these three major digital currencies will be permitted for trading. Chistyukhin noted that the high volatility of cryptocurrencies, market risks, and the potential for restrictions or freezes on stablecoins justify maintaining strict limits. These regulations are part of Russia’s digital currency legislation, which passed its first reading in the State Duma by a large majority in April and is expected to take effect next month. Regulators also intend to retain the proposed investment cap of 300,000 rubles. As part of the proposed rules, both qualified and non-qualified investors must pass a mandatory knowledge test before purchasing any digital asset. Starting in 2027, unauthorized cryptocurrency lending will be prohibited. The bill still requires second and third readings, approval by the Federation Council, and presidential signature to become law.