Russia finalizes crypto trading rules ahead of Nov. 17 rollout

Russia’s central bank has finalized rules allowing exchanges to offer Bitcoin (BTC), Ether (ETH) and Tether USDt (USDT) to retail investors starting Nov. 17.Under the rules, non-qualified investors can purchase up to 300,000 rubles (around $3,700) in cryptocurrency annually through each intermediary, including brokers, asset managers and crypto exchange providers. Qualified investors face no purchase limits, but all investors must pass a mandatory test before trading.The directive builds on legislation signed by Russian President Vladimir Putin on Aug. 4 establishing a regulated cryptocurrency market under central bank oversight.A week later, on Aug. 11, the Bank of Russia published its draft regulations, identifying BTC, ETH and USDT as eligible for public trading based on market capitalization, average daily trading volume and at least five years of price history on foreign exchanges.The law took effect Sept. 1, and the Bank of Russia subsequently authorized Sberbank, the country’s largest bank, to offer crypto exchange services in October.The regulatory developments come as Moscow Exchange, Russia’s largest securities exchange and a publicly traded company, prepares to launch cr...