Russia's central bank has officially approved Bitcoin, Ether and Tether's USDT for public trading on regulated exchanges, marking a significant milestone in the country's move to establish a regulated digital asset market. According to CoinMarketCap, the Central Bank of Russia announced the selection on Tuesday, stating that the decision was based on factors including market capitalization, trading activity, and price history in overseas markets. The regulator confirmed that the three cryptocurrencies met the relevant criteria for inclusion in the approved list. This approval follows President Vladimir Putin's signing of Russia's digital currency law on August 4, which placed the Bank of Russia in charge of deciding which cryptocurrencies can trade through organized markets and how the venues will operate. The main provisions of the new law are expected to take effect on September 1, at which point retail investors will only be able to purchase crypto assets that meet central bank standards. However, XRP was notably excluded from the approved list, as confirmed by recent reports, indicating a more selective approach to cryptocurrency inclusion.
Under the approved framework, qualified investors will be able to purchase all cryptocurrencies that will be traded on exchange and over-the-counter markets without restrictions, as confirmed by the Bank of Russia. However, non-qualified investors face an annual purchase limit of 300,000 rubles (approximately $3,600) through each intermediary, including brokers, crypto exchange services and asset managers. As reported by CoinMarketCap, this limit applies separately to brokers, crypto exchange services, and asset management institutions. The 300,000 ruble limit is planned to be counted separately for each intermediary, meaning that if an investor works with several organizations at once, the total purchase volume could potentially be higher. Regardless of whether they are qualified investors, all users must pass a risk knowledge test before trading, with the Central Bank stating this requirement aims to limit ordinary investors' exposure to the high price volatility of crypto assets. The restrictions would apply to exchanges, brokers, asset managers, and digital depositories operating under the central bank's oversight, with the public consultation on the draft regulation running through August 24.
The approved asset list follows President Vladimir Putin's signing of Russia's digital currency law on August 4, which established a legal framework for digital currencies and digital rights. According to CoinMarketCap, the new framework provides for the regulation of cryptocurrency circulation and recognizes digital currencies as property. The Central Bank of Russia is simultaneously developing operational rules for trading venues and associated institutions, with regulators having released drafts concerning cryptocurrency exchanges, digital custodians, and cryptocurrency account service providers by the end of July. Under the same legislation, crypto exchange providers must enter a special registry, hold at least 15 million rubles in equity and join an approved financial-market self-regulatory organization, with existing exchange services having until July 1, 2027 to comply with registration requirements. The proposal remains open for public comments until August 24, allowing stakeholders to provide feedback on the regulatory framework before final implementation.
Major Russian financial institutions have already begun preparing products for the regulated market. As reported by crypto.news, Alfa-Bank has been testing cryptocurrency trading inside its Alfa-Investments brokerage application with a small group of qualified investors, with its test interface reportedly including Bitcoin, Ether, Tether, USD Coin, Solana, Litecoin and Zcash. The bank also plans to build a digital depository and crypto-to-ruble exchange infrastructure during 2026. Sberbank has been working on a crypto wallet and digital asset depository, with its custody infrastructure targeted for December 1. T-Bank has discussed plans to offer buying, selling, storage and crypto balance tracking through its mobile applications, while seeking approval to operate a digital depository. Under the new rules, Russians will be able to access crypto investments through domestic financial intermediaries, including brokers and other authorized market participants. For funds, ETFs, P2P platforms, and trust management, the conditions will depend on the specific scheme and instrument admission.
The opening of regulated trading does not remove Russia's existing prohibition on using cryptocurrency as a domestic payment method. According to CoinMarketCap, under the law signed August 4, cryptocurrencies cannot be used to pay for goods, services, information or intellectual property within Russia. However, separate provisions permit cryptocurrencies to be used for certain cross-border settlements between Russian residents and foreign counterparties, with Russian exporters and importers able to use compliant digital assets for foreign trade settlement under specific conditions. These transactions are not subject to the annual 300,000 ruble limit imposed on retail investment purchases, providing flexibility for international business operations while maintaining domestic payment restrictions.
