Russia Restricts Cryptocurrency Trading to Licensed Firms

Russia has taken a significant step in regulating its cryptocurrency market by approving a bill that restricts trading to licensed brokerage firms.

The new regulatory framework aims to tighten government oversight of crypto assets while maintaining limited access for unqualified investors and wider access for qualified ones.

Under the approved bill, individual investors will need to pass an exam before they can purchase cryptocurrencies through a single firm. The maximum annual purchase limit is set at 300,000 rubles ($3,700) worth of 'the most liquid cryptocurrencies.'

The Russian Central Bank will determine which cryptocurrencies are suitable for purchase by investors.