Russian Central Bank Authorizes Organized Crypto Asset Trading
Rules allow operations to begin November 22 following regulatory approval for exchanges and brokers
The Central Bank of Russia issued a decree allowing organized cryptocurrency trading to begin on November 22. Interested platforms must obtain prior approval of their operational rules from the monetary authority before opening the market.
Exchanges must register all participants including brokers and trust managers. Furthermore, entities are required to monitor activities and report price and volume data to the regulator while following standards applied to traditional financial assets.
An additional rule establishes conditions for retail investors starting November 17. Access includes Bitcoin, Ether, and the USDT stablecoin provided that buyers pass knowledge tests and read mandatory risk disclosures.
Non-qualified investors have an annual purchase limit of 300,000 rubles which is equivalent to approximately 3,600 dollars. Qualified investors face no value restrictions for the acquisition of these digital assets.
The Moscow Exchange plans to launch a pilot project for Bitcoin, Ether, and USDT on December 1. The infrastructure will utilize trading and clearing systems already present in the country's stock market.
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