Russia Sets Bitcoin, Ether and USDT as First Regulated Crypto Assets

The regulator’s proposed list relies on strict criteria, including market capitalization, daily trading volume, and a minimum of five years of trading history on international platforms. While these three assets currently lead the proposal, the list remains open for public commentary until August 24. Once the new law takes effect, non-qualified investors will face an annual purchase cap of 300,000 rubles—roughly $3,650—per intermediary, alongside mandatory risk-assessment testing. Qualified investors, while still required to undergo testing, will avoid these specific volume ceilings when trading through authorized exchanges or over-the-counter channels.

Major financial institutions, including Alfa-Bank, Sberbank, and T-Bank, are already building the necessary infrastructure to support these regulated services. Despite this shift toward integration, the legislation maintains a strict ban on using cryptocurrencies for domestic payments. Digital assets may only be utilized for specific cross-border settlements, allowing exporters and importers to bypass retail investment limits for foreign trade operations. The central bank retains full authority to oversee market participants, maintain registries, and enforce custody standards for digital depositories as the system moves toward full implementation.