Bank of Russia Proposes $3,645 Annual Crypto Cap for Retail Investors, Limits Access to BTC, ETH and USDT 

The Bank of Russia has proposed limiting cryptocurrency purchases by non-qualified investors to 300,000 rubles ($3,645) annually with each crypto exchange operator, broker, or asset manager.

Under the draft rules, eligible cryptocurrencies would currently be restricted to Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Eligibility would be determined using criteria including market capitalization, at least five years of overseas price history, and average daily trading volume.

Qualified investors would not face purchase limits for cryptocurrency transactions conducted on exchanges or over-the-counter (OTC) markets.

All investors would be required to complete a risk assessment before trading. The central bank has opened the proposal for public consultation through Aug. 24.

Source: Central Bank of Russia