Russia's central bank approves Bitcoin, Ether and USDT trading for retail investors

The Bank of Russia approved Bitcoin, Ethereum, and Tether (USDT) for public trading by retail investors starting November 17, 2026. Prompted by Western financial sanctions restricting traditional market access, Russia established a regulated crypto framework. Non-qualified investors face an annual limit of 300,000 rubles per intermediary and must pass risk tests, while major institutions like Sberbank and Moscow Exchange prepare December launches.

Russia legalizes retail crypto trading

• ▪The Moscow Exchange and Sberbank scheduled the launch of public cryptocurrency trading for December 1, 2026
• ▪The Bank of Russia officially approved Bitcoin, Ethereum, and Tether (USDT) for public trading by non-qualified retail investors starting November 17, 2026

Selection of approved cryptocurrencies

• ▪The Bank of Russia published draft cryptocurrency regulations on August 11, 2026, designating Bitcoin, Ethereum, and Tether as eligible for public trading
• ▪The Bank of Russia selected Bitcoin, Ethereum, and Tether based on criteria requiring five years of international price history, a two-year average capitalization exceeding 5 trillion rubles, and a two-year average daily trading volume above 1 trillion rubles

Rules and limits for retail crypto investors

• ▪Russian regulations require all investors to review investment risks and pass a mandatory assessment test before trading cryptocurrencies, while exempting qualified investors from annual purchase limits
• ▪The Bank of Russia capped non-qualified retail investors' cryptocurrency purchases at 300,000 rubles per year per intermediary across exchange and over-the-counter markets

Restrictions on peer-to-peer trading and payments

• ▪The Bank of Russia established a prohibition on direct peer-to-peer cryptocurrency trading taking effect July 1, 2027, and banned asset transfers from regulated digital accounts to self-custody wallets
• ▪Russian federal law maintains a complete prohibition on using cryptocurrencies as a payment method for purchasing goods and services

Russia's crypto regulatory framework

• ▪Approximately two dozen organizations registered with the Bank of Russia as crypto trading and custodial service providers, including Sberbank, which received specific central bank authorization in October 2026
• ▪Following the central bank's authorization of crypto derivatives in spring 2025, Russian President Vladimir Putin signed legislation on August 4, 2026, establishing a comprehensive cryptocurrency framework that took effect September 1, 2026
• ▪Russia's digital currency law introduced a licensing regime for cryptocurrency exchanges and digital depositories, requiring all legal transactions to be processed by central bank-authorized platforms

Impact of Western sanctions

• ▪A number of traditional and fintech entities registered with the Bank of Russia as cryptocurrency service providers are subject to sanctions
• ▪Russia expanded cryptocurrency access under increasing pressure from Western financial sanctions that restricted the country's access to traditional international finance