Russia Central Bank Proposes Restricted Retail Access to Cryptocurrencies

Russia's central bank has unveiled plans to restrict retail access to cryptocurrencies in an effort to create a more controlled domestic market.

The proposed framework would allow non-qualified investors to buy only Bitcoin, Ethereum, and USDT, while qualified investors would have broader access. This move is part of Russia's broader bill on digital currency and digital rights, which aims to replace the country's patchwork approach to crypto with licensed intermediaries and stricter investor categories.

The Bank of Russia's First Deputy Governor, Vladimir Chistyukhin, has stated that the regulator could expand the list of approved cryptocurrencies in the future, but does not plan to do so at the start of the new regime.