Russia Opens Door to Retail Crypto Investment Amid Global Tensions

Russia is on the cusp of allowing retail investors to buy cryptocurrencies for the first time in nearly a decade. Deputy Finance Minister Ivan Chebeskov announced that legislation aimed at granting ordinary Russians access to Bitcoin, Ethereum, and other digital assets has reached parliament with a July 1 deadline for adoption.

The draft law uses market capitalization as the eligibility test for cryptocurrencies. Any asset must maintain an average market cap exceeding 5 trillion rubles over two calendar years to qualify. Currently, four assets meet this threshold: Bitcoin, Ethereum, USDT, and USDC.

Chebeskov described these as 'globally accepted' cryptocurrencies that form the foundation of the international digital asset market. He also mentioned that cryptocurrencies from countries Russia considers friendly jurisdictions may also qualify, even if they fall below the market cap threshold.