The Bank of Russia has added Bitcoin, Ethereum, and the stablecoin of the American company Tether USDT to the list of cryptocurrency assets admitted to trading on the Russian market. The list is contained in a draft Central Bank directive published for discussion.

The country's top financial regulator explained the short list by the criteria specified in the new Russian law: high market capitalization of the coins, high average daily trading volume, and a rich pricing history on foreign exchanges—at least five years.

Non-professional investors, meaning anyone interested, will be allowed to purchase only these three cryptocurrencies. The Central Bank explained the strict selection process as a desire to reduce risks due to "sharp and unpredictable price fluctuations." Furthermore, the same directive sets an annual limit on the purchase of crypto assets: through a single intermediary—a broker, crypto exchange, or manager—an unqualified investor will be able to spend no more than 300,000 rubles per year.

Professional investors will enjoy more liberal conditions, according to a draft Central Bank directive: these market participants will be able to purchase any cryptocurrency listed on the exchange and over-the-counter markets without any limits. However, mandatory testing before making transactions is a requirement for all investors, regardless of status.

On August 4, Russian President Vladimir Putin signed the law "On Digital Currency and Digital Rights," establishing rules for state oversight of cryptocurrency circulation. Requirements for investors, exchangers, exchanges, and digital depositories are set to come into effect on September 1.

Russia's largest trading platform, Moscow Exchange, has already begun preparations to launch its own crypto depository. Presumably, the organization, which will be required to obtain a Central Bank license, will be separate from Russia's main depository, the National Settlement Depository (NSD).

The Bank of Russia has decided on the limit and list of cryptocurrencies available for trading.