How to Trade Crypto (4:26)
Last week, Russian President Vladimir Putin signed a law to provide comprehensive regulation of cryptocurrencies in the country for the first time.
Following his nod, the country's central bank has proposed exchange trading of three cryptocurrencies, namely Bitcoin (BTC), Ethereum (ETH), and Tether's USDT stablecoin.
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What latest law means for Russian crypto traders
The landmark law signed by Putin on Aug. 4 allows retail (non-qualified) investors to buy the most liquid cryptocurrencies capped at 300,000 rubles ($3,700) annually per intermediary, but it put no such restrictions on qualified investors.
The law restricts the use of cryptocurrencies as legal tender, so they cannot be used to settle payments domestically. However, settlements under foreign trade contracts between residents and non-residents are allowed.
The core provisions of the law will take effect on Sep. 1, 2026. The law will be fully implemented by Sep. 1, 2027.
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Bank of Russia proposed Bitcoin, Ether, USDT for retail traders
On Aug. 11, the Bank of Russia issued crypto guidelines in which it reiterated the trading of only the most liquid cryptocurrencies capped at 300,000 rubles ($3,700) annually per intermediary for retail crypto traders to save them from sharp fluctuations in crypto prices.
The central bank has included Bitcoin, Ethereum, and USDT in the list of cryptocurrencies available for trading on crypto exchanges.
Qualified investors can buy all cryptocurrencies traded on exchange and over-the-counter markets without restrictions, the bank added.
However, it underlined that all investors, regardless of their status, will be required to undergo testing and become familiar with the risks of crypto investing before they make any transactions.
The bank asked for comments on the proposal to be submitted by Aug. 24.
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