Russia's central bank, the Bank of Russia, will permit exchange trading in Bitcoin (BTC), Ether (ETH) and USD Tether (USDT) beginning Nov. 17, with purchase ceilings for nonqualified investors.
Each nonqualified investor may spend up to 300,000 rubles a year through each intermediary. The cap applies to transactions through brokers, asset managers and crypto exchanges, both on organized markets and over the counter. Anadolu Agency put the amount at about $3,660.
Qualified investors may buy any cryptoasset without a purchase ceiling, the Bank of Russia said. Investors in both categories must pass a test and review the risks before trading.
The central bank says its screening for assets eligible for public exchange trading considered market capitalization, average daily trading volume and at least five years of price history on foreign platforms. It said the criteria are intended to reduce risks for nonqualified investors.
Moscow Exchange has announced a Dec. 1 pilot featuring the same three assets. EconoTimes previously covered the exchange's planned two-format launch.
