Bank of Russia Limits Unqualified Investors to BTC, ETH, and USDT

Bank of Russia limits unqualified investors to BTC, ETH, and USDT.

The Bank of Russia does not intend to expand the list of cryptocurrencies available to unqualified investors or increase investment limits in such assets after the new regulations take effect. This was stated by the First Deputy Chairman of the Central Bank, Vladimir Chistyukhin, to RBC.

According to him, initially, unqualified investors will have access only to the three most liquid assets: Bitcoin, Ethereum, and USDT.

Chistyukhin noted that a provision was added to the bill for the second reading, granting the Bank of Russia the right to expand the list. However, the regulator does not intend to use this option at the outset.

The Central Bank continues to view cryptocurrencies as high-risk instruments, characterized by high volatility and the risk of being blocked. Under such conditions, Chistyukhin emphasized, investments in crypto assets by unqualified investors “should not become a priority.”

He specifically pointed out the vulnerability of stablecoins, including USDT: such tokens can be blocked or burned, risking owners losing access to their funds. Therefore, the Central Bank does not support either expanding the list of currencies available to unqualified investors or increasing the purchase limit for stablecoins.

According to Chistyukhin, the request to expand the list is related to the prospect of issuing local stablecoins in Russia, so they are “not discriminated against compared to foreign ones.” He added that one company has already issued a token for international settlements and is using it, but the Central Bank is ready to discuss expanding the list later.

The regulator also does not plan to change the investment limit for unqualified investors — 300,000 rubles through one professional participant. Chistyukhin stated that the amount exceeds the average balances in brokerage and trust management accounts, and the restrictions, according to the Central Bank, limit potential losses.

The criteria for admitting cryptocurrencies to Russian exchanges and the investment rules for qualified and unqualified investors are outlined in the draft law “On Digital Currency and Digital Rights.” It sets the basic framework for regulating cryptocurrency circulation in Russia and the circle of market participants — exchanges, exchangers, depositories, brokers, and management companies.

According to the document, before purchasing digital assets, both categories of investors must undergo testing on their knowledge of the instrument. At the end of April, the bill passed its first reading in the State Duma. It is planned to be adopted in the summer, with the regulation coming into force on July 1, 2026.

Earlier, the Bank of Russia intended to introduce criminal liability for operating in the crypto market without a license.