Russia Caps Nonqualified Investors’ Crypto Buying at $3,700 Per Provider Each Year

Russia's central bank finalized rules that will cap nonqualified investors' crypto purchases at about $3,700 per provider each year, setting a limit as regulated retail trading opens Nov. 17.

Trading platforms may offer Bitcoin (BTC), Ether (ETH) and Tether (USDT) to retail customers under the framework. The annual limit applies separately to purchases routed through each intermediary.

Qualified investors are exempt from the purchase cap, but they also must pass the required test before trading. The screening requirement applies to both investor groups.

Brokerages, asset managers and crypto trading services can provide the offerings. Moscow Exchange plans to start crypto trading on Dec. 1, two weeks after the rules take effect.

The framework also adds a restriction on trading channels: direct crypto trades between individuals are scheduled to be prohibited starting July 1, 2027. It pairs access through intermediaries with an annual ceiling for nonqualified investors and a pretrade test for everyone.