Russia Legalizes Retail Access to Bitcoin, Ethereum, and More Cryptocurrencies

Russia is taking steps to legalize cryptocurrency investment for retail investors after nearly a decade of debates. Deputy Finance Minister Ivan Chebeskov announced on June 16 that legislation is moving through parliament with a July 1 deadline for adoption.

The draft law proposes specific limits on which assets can be bought and how much can be invested annually by retail investors. The eligibility test uses market capitalization, requiring any cryptocurrency to 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 the globally accepted cryptocurrencies that form the foundation of the international digital asset market.