Russia’s central bank has recently announced its decision to limit cryptocurrency investments to just three major currencies: Bitcoin, Ethereum, and Tether (USDT). This choice reflects the bank's intent to maintain strict regulatory oversight as new digital currency laws approach implementation next month, following a successful initial vote in the State Duma.
The deputy governor of the central bank expressed concerns over the inherent volatility of cryptocurrencies, highlighting the associated market risks and potential for restrictions on stablecoins. Due to these factors, the central bank is not considering the inclusion of additional cryptocurrencies into the investment portfolio for non-qualified investors at this time. Instead, they have emphasized a gradual evaluation process for any future expansions.
As part of the new regulations, there will be a defined limit on investments set at 300,000 rubles, a figure that exceeds the average balance held in Russian brokerage accounts. Furthermore, all investors, regardless of their qualifications, will need to pass a mandatory knowledge assessment before they can purchase any digital assets. Notably, unlicensed cryptocurrency lending will also face a prohibition from 2027 onwards as part of this legislation.
Before these conditions can take effect, the bill must clear two more readings, obtain approval from the Federation Council, and receive the president's signature. Investors should stay informed about these developments as they unfold, as they will significantly shape the landscape of cryptocurrency investment in Russia.