Russia proposes exchange trading of Bitcoin, Ether and Tether’s USDT
Russia’s central bank has proposed allowing a limited set of cryptocurrencies to trade on exchanges under new rules. The initial list includes Bitcoin, Ether, and USDT, chosen for meeting criteria such as large market capitalization, strong daily trading volume, and at least five years of price history on foreign markets. The proposal follows a law signed by Vladimir Putin that gives the central bank authority over which digital currencies can be admitted to organized trading and how they are regulated. Under the rules, non-qualified investors could buy up to 300,000 rubles worth of crypto per year through each intermediary, while qualified investors would face no purchase limits. All investors would need to pass a test and acknowledge the risks before trading. The central bank says the limits are meant to protect retail investors from sharp crypto price swings. Comments are being accepted until Aug. 24.
