The Bank of Russia has released a draft regulation that would allow Bitcoin (BTC), Ethereum (ETH), and Tether’s USDT to be publicly traded on regulated exchanges, marking the first approved cryptocurrency list for ordinary investors under the country’s new digital asset framework. The proposal, published on August 11, 2026, follows legislation signed by President Putin on August 4 that granted the central bank authority to determine which crypto assets can be admitted to organized trading.
According to the draft, only the most liquid cryptocurrencies will be offered to non-qualified investors, with Bitcoin, Ether, and USDT meeting the criteria of market capitalization, average daily trading volume, and a pricing history of at least five years on foreign exchanges. The central bank is accepting public comments until August 24, 2026, before finalizing the rules, while the broader crypto law takes effect on September 1.
Limits for ordinary investors: Unqualified investors will be able to purchase these approved cryptocurrencies through regulated brokers, crypto exchange services, or asset managers after completing a mandatory knowledge test and acknowledging the risks. Purchases will be capped at 300,000 rubles per calendar year per intermediary. Because the limit applies separately to each provider, investors using multiple firms could potentially exceed the cap unless consolidated monitoring is introduced in the final framework.
No restrictions for qualified investors: Qualified investors will face no quantity restrictions and can trade a wider range of cryptocurrencies across both exchange and over-the-counter markets. However, they must also undergo testing and risk‑disclosure procedures. The central bank stressed that the aim is to protect unqualified investors “from sharp and unpredictable fluctuations” while granting broader access to experienced participants.
Why these three assets? Bitcoin provides exposure to the largest decentralized cryptocurrency, Ether represents the dominant smart-contract ecosystem, and USDT serves as a dollar-linked token widely used for trading, liquidity, and cross-border settlement. The inclusion of USDT is notable because Russia has sought to reduce reliance on conventional dollar payment channels, yet stablecoins offer dollar-denominated value without traditional bank accounts.
Payments remain prohibited: The new framework does not legalize cryptocurrency as a means of payment for domestic goods and services. Instead, it separates investment activity from settlement use, allowing exporters and importers to use digital assets for international transactions without the same retail limits. Residents may also conduct certain crypto transactions abroad and transfer domestically purchased assets overseas under reporting requirements.
The rules are expected to shift more cryptocurrency activity from offshore platforms onto institutions supervised by the Bank of Russia. Brokers, asset managers, specialized exchange services, and digital depositories will be able to facilitate trading and record rights associated with crypto assets. A transition period until July 1, 2027, gives market participants time to obtain licenses and comply. The central bank continues to view cryptocurrency as a high-risk asset, and the regime remains a controlled compromise: acknowledging crypto’s role while keeping retail access tightly regulated.
