Russia Has Announced Three Cryptocurrencies in Which Non-Accredited Investors Can Invest

The Central Bank of Russia today announced the cryptocurrencies that will be accessible to individuals without qualified investor status. The list includes Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). According to the bank’s statement, the regulation will come into effect on November 17th. From that date, exchanges will be able to accept the three assets for public trading.

Unqualified investors will be able to trade through brokers, portfolio managers, or intermediaries offering cryptocurrency trading services. Purchases can be made both on exchanges and over-the-counter markets. A limit of 300,000 rubles (approximately $3,600) per intermediary will apply to these investors annually.

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Qualified investors will be able to trade without the same purchase limits and asset list restrictions. The central bank stated that regardless of investor status, a test must be completed and information provided about the risks of cryptocurrency investments before trading.

The list was compiled taking into account the market value of the assets, the average daily trading volume, and the price history on international platforms. The bank stated that it requires this history to span at least five years.

*This is not investment advice.

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