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Russia’s central bank has rejected calls to immediately expand access to crypto beyond Bitcoin, Ethereum, and USDT for non-qualified investors. Deputy Governor Vladimir Chistyukhin said in an interview with Radio RBC this week that only those three leading digital currencies will be permitted when new regulations come into force.
The rules, which form part of Russia’s digital currency legislation, are expected to become effective next month after the State Duma passed its first reading in April with overwhelming support.
Chistyukhin cited crypto’s high volatility, market risks, and the potential for stablecoin restrictions or freezes as reasons for maintaining strict limits. The central bank’s chief said any additions would be evaluated gradually.
The regulator also intends to keep the proposed 300,000-ruble investment cap unchanged, noting that the figure already exceeds the average balance on Russian brokerage accounts.
As part of the proposed rules, both qualified and non-qualified investors will need to pass a mandatory knowledge test before buying any digital assets, while unlicensed crypto lending will be banned from 2027 onward.
The bill still requires two additional readings, Federation Council approval, and presidential signature before becoming law.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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