The Russian Central Bank paved the way for individual investors to trade crypto assets such as Bitcoin, Ethereum, and USDT through trading platforms. The move follows the adoption of new legislation regulating the cryptocurrency market in the country and opening the door to expanding its activities.

The Russian Central Bank announced in a statement that individual investors will be able to trade these assets starting November 17. It clarified that, as of that date, exchanges will be permitted to list eligible cryptocurrencies among the trading instruments available to the public.

The bank noted that individual investors can purchase these crypto assets through intermediaries, including brokerage firms, fund managers, and cryptocurrency exchanges, provided that purchases do not exceed 300,000 rubles per year through each intermediary, equivalent to about $3,700.

By contrast, similar restrictions will not apply to institutional investors, who will be able to trade through cryptocurrency exchanges.

The move comes months after Russia passed legislation to regulate the cryptocurrency sector, providing a clearer legal framework for its activities and covering several areas, including transactions, taxation, mining, and the issuance and ownership of crypto assets.

๐Ÿ“ŒCriteria for selecting cryptocurrencies

Regarding the criteria for selecting crypto assets permitted for trading, the Central Bank of Russia explained that the list is limited to the most liquid currencies. It noted that the assessment took into account market capitalization, average daily trading volume, and price history on international exchanges, with the history required to span at least five years.

The bank added that adopting these criteria aims to reduce the risks individual investors may face when dealing in crypto assets.

๐Ÿ“ŒRussia moves ahead... while U.S. legislation stalls

Russia's move comes as legislation to regulate cryptocurrencies in the United States faces delays. The cryptocurrency regulation bill has not been passed, while the future of the market structure legislation remains uncertain amid political disagreements over its provisions and additional challenges following the Democrats' control of Congress after the midterm elections.