True or false? Four statements about Russia and crypto at a turning point.
1. « Starting November 22, any Russian will be able to buy bitcoin on the exchange. »
False, or almost. November 22 is the date from which exchanges are allowed to open a crypto market, according to the directive published by the Bank of Russia on November 11. But each platform must first have its rules approved by the regulator. The Moscow Exchange is aiming for December 1, in pilot mode.
2. « Individuals will have access to all cryptocurrencies. »
False. So-called unqualified investors, meaning most individuals, will only be allowed to buy three assets: $BTC , ether and $USDT. Limit: 300,000 rubles per year per intermediary, around $3,600. Qualified investors, on the other hand, have no limit.
3. « You’ll have to take a test before buying. »
True. Qualified or not, everyone must pass a knowledge test and read a warning about the risks.
4. « You’ll be able to pay for your bread in USDT in Moscow. »
False. The 2020 law banning payments for goods and services in crypto in the country is still in force. You’ll be able to trade, not spend. Only trade with foreign countries is allowed to make certain payments in crypto.
What strikes me: in 2022, the Bank of Russia proposed banning almost everything, including mining. Mining was legalized in 2024, and now crypto is entering the stock exchange, on the same systems used for stocks, with an order book and reports to the regulator. I wouldn’t call this an opening up. It’s putting crypto under surveillance.
An annual limit plus a mandatory test: useful protection for beginners, or mainly a way to find out who’s buying what?
#Russie #Regulation #Bitcoin #Stablecoin #Crypto
1. « Starting November 22, any Russian will be able to buy bitcoin on the exchange. »
False, or almost. November 22 is the date from which exchanges are allowed to open a crypto market, according to the directive published by the Bank of Russia on November 11. But each platform must first have its rules approved by the regulator. The Moscow Exchange is aiming for December 1, in pilot mode.
2. « Individuals will have access to all cryptocurrencies. »
False. So-called unqualified investors, meaning most individuals, will only be allowed to buy three assets: $BTC , ether and $USDT. Limit: 300,000 rubles per year per intermediary, around $3,600. Qualified investors, on the other hand, have no limit.
3. « You’ll have to take a test before buying. »
True. Qualified or not, everyone must pass a knowledge test and read a warning about the risks.
4. « You’ll be able to pay for your bread in USDT in Moscow. »
False. The 2020 law banning payments for goods and services in crypto in the country is still in force. You’ll be able to trade, not spend. Only trade with foreign countries is allowed to make certain payments in crypto.
What strikes me: in 2022, the Bank of Russia proposed banning almost everything, including mining. Mining was legalized in 2024, and now crypto is entering the stock exchange, on the same systems used for stocks, with an order book and reports to the regulator. I wouldn’t call this an opening up. It’s putting crypto under surveillance.
An annual limit plus a mandatory test: useful protection for beginners, or mainly a way to find out who’s buying what?
#Russie #Regulation #Bitcoin #Stablecoin #Crypto
