Russia Caps Retail Crypto at $58k, Limiting Public Trading to Bitcoin, Ethereum, and USDT

Woofun AI reports that the Bank of Russia has proposed a restrictive framework for public organized crypto trading, admitting only Bitcoin, Ethereum, and Tether's USDT. This limited asset list defines the core of the central bank's draft directive for retail participation.

Retail limitations are strictly enforced through a ₽300,000 annual cap, equivalent to nearly $58,000, applied per single broker within a calendar year.

Woofun AI data shows this limit measures cumulative purchase costs, distinguishing non-qualified residents from qualified investors who access wider regulated routes.

Structurally, the planned market infrastructure integrates brokers, management companies, crypto exchanges, and digital repositories into a single transaction channel. The official summary explicitly separates public venue admission from the broader asset range available to qualified investors through regulated intermediaries.

The underlying cryptocurrency market law is scheduled to take effect on Sept. 1, with the proposed directive activating 10 days after official publication. Since consultation continues, the publication-triggered clock has not yet begun, leaving the directive's date and number blank.

Notably, a distinct channel for foreign trade allows exporters and importers to use any type of wallet or any type of cryptocurrency for cross-border payments. This provision facilitates international settlement via intermediaries or direct transfers, remaining separate from domestic public-market admission rules.

The Aug. 24 deadline marks the immediate decision point for the organized-trading gate. The current text assigns Bitcoin, Ethereum, and USDT to the public venue while granting tested, qualified investors broader intermediary access.

However, the wording and publication date of the final directive remain unresolved, leaving the regulatory outcome uncertain.