Russia restricts crypto for retail investors to Bitcoin, Ethereum and USDT

The Russian Central Bank wants to restrict ordinary, non-qualified investors to just three cryptocurrencies: Bitcoin, Ethereum and USDT. First Deputy Governor Vladimir Chistyukhin of the central bank announced this and indicated that there are currently no plans to expand that list. At the same time, Russia is announcing an annual purchase limit of approximately $4.100 per ordinary investor through one broker or exchange.

Bitcoin is available at OKX and Bybit.

Only the most liquid coins allowed

According to Chistyukhin, cryptocurrencies are inherently risky and highly volatile instruments. That is the main reason why the central bank wants to limit the choice for non-professional investors to the three most liquid options on the market. Bitcoin is currently at $61K, a decline of 1.9% over the past 24 hours, which well illustrates the volatility the central bank warns about.

Interestingly, USDT is on the approved list, despite Chistyukhin himself warning about the risks associated with this stablecoin. For example, he points out that the issuer of USDT can freeze wallets, which creates an additional risk factor for Russian users. You can read more background on crypto wallets and the associated risks on this page.

Annual purchase limit for ordinary investors

In addition to restricting the available coins, Russia is also introducing a financial cap. Ordinary investors may buy a maximum of approximately $4.100 in crypto per year through one broker or exchange. This is part of the first phase of the new regulations concerning digital currencies in Russia.

The measures fit into a broader trend in which countries are increasingly scrutinising retail investors’ access to crypto. Russia is opting for a cautious approach: first a narrow list of allowed coins, with the possibility of expanding it later as regulations take further shape. Whether the country will actually take that step remains unclear for now. Meanwhile, the crypto market continues to move globally, with discussions about the value of Ethereum and the behaviour of large Bitcoin holders also setting the agenda.