Source: Cryptonews
Original Title: Russia tests retail crypto access under strict caps and ruble-only rule
Original Link:
Russia’s central bank has proposed regulations that would allow both qualified and non-qualified investors to trade cryptocurrencies under separate conditions, while maintaining a ban on crypto and stablecoins for domestic payments. The digital assets would be classified as foreign currency instruments.
Key Provisions for Non-Qualified Investors
Non-qualified investors would be required to pass a risk awareness test before trading. Their access would be limited to highly liquid tokens and capped at 300,000 rubles per intermediary annually. This represents a significant expansion from the earlier plan that restricted crypto trading to qualified investors under a three-year experimental regime.
Conditions for Qualified Investors
Qualified investors and intermediaries would be permitted to trade most cryptocurrencies, excluding privacy-focused tokens that use smart contracts concealing transaction details. These participants would face no investment cap but must complete the same risk awareness test.
Cross-Border Trading and Reporting
The plan authorizes Russian residents to purchase crypto on foreign exchanges using overseas bank accounts. Investors could transfer existing digital assets abroad through Russian intermediaries, though all such activity must be reported to tax authorities.
Implementation Timeline
Legislative changes could be finalized by July 1, 2026
Penalties for unlicensed crypto intermediary activity beginning in July 2027
National digital ruble rollout starting September 1, 2026
Large merchants (earning over 120 million rubles annually) required to accept digital ruble payments from September 1, 2026
Mid-sized firms to follow in 2027
Full adoption scheduled for 2028
The central bank stated that the objective is to enhance market transparency and establish clearer standards for cryptocurrency services.
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GameFiCritic
· 11h ago
3 million rubles cap? With this inflation rate, it's really insulting to retail investors... But on the other hand, the tiered system is a viable idea, as long as its implementation doesn't become a tool for the elites to harvest retail investors. Can the retention rate be good with this model?
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CommunityJanitor
· 11h ago
The Russian Central Bank's set of quota frameworks seem like a rigid application of Web2 thinking onto crypto; 3 million rubles is still insignificant for retail investors...
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UncleWhale
· 11h ago
The Central Bank of Russia is at it again, with a cap of 300,000 rubles... Are they really trying to encourage retail investors or subtly discouraging them?
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RetailTherapist
· 11h ago
Russia's approach... a limit of 300,000 rubles, truly to prevent retail investors from impulsive spending, quite thoughtful haha
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SoliditySlayer
· 11h ago
The Russian Central Bank's approach is interesting, with a limit of 300,000 rubles for retail investors... Isn't this a de facto acknowledgment of the legitimacy of the crypto industry? It feels like the wall is really starting to loosen.
Russia's Central Bank Proposes Tiered Crypto Trading Framework With 300K Ruble Cap for Retail Investors
Source: Cryptonews Original Title: Russia tests retail crypto access under strict caps and ruble-only rule Original Link: Russia’s central bank has proposed regulations that would allow both qualified and non-qualified investors to trade cryptocurrencies under separate conditions, while maintaining a ban on crypto and stablecoins for domestic payments. The digital assets would be classified as foreign currency instruments.
Key Provisions for Non-Qualified Investors
Non-qualified investors would be required to pass a risk awareness test before trading. Their access would be limited to highly liquid tokens and capped at 300,000 rubles per intermediary annually. This represents a significant expansion from the earlier plan that restricted crypto trading to qualified investors under a three-year experimental regime.
Conditions for Qualified Investors
Qualified investors and intermediaries would be permitted to trade most cryptocurrencies, excluding privacy-focused tokens that use smart contracts concealing transaction details. These participants would face no investment cap but must complete the same risk awareness test.
Cross-Border Trading and Reporting
The plan authorizes Russian residents to purchase crypto on foreign exchanges using overseas bank accounts. Investors could transfer existing digital assets abroad through Russian intermediaries, though all such activity must be reported to tax authorities.
Implementation Timeline
The central bank stated that the objective is to enhance market transparency and establish clearer standards for cryptocurrency services.