The Bank of Russia has proposed making Bitcoin, Ethereum and Tether’s USDT available to non-qualified investors under a draft framework for crypto trading, according to a Tuesday statement.
The proposed rules would allow retail investors to purchase up to 300,000 rubles of eligible crypto per year from each intermediary, such as a broker, exchange or asset manager.
The Bank of Russia said that its selection takes into account market capitalization, average daily trading volumes and the pricing history on foreign exchanges, which must span at least five years. The restrictions are aimed at protecting retail investors from the sharp price fluctuations associated with crypto assets.
Under the proposal, qualified investors would be exempt from the purchase limit and could trade all cryptocurrencies available on exchange and over-the-counter markets.
The rules would also require every investor to undergo testing and review the risks of crypto-asset investments before making transactions, regardless of their qualification status.
