Russia Proposes $3,645 Annual Cap on Retail Crypto Buys

Russia's central bank is proposing a 300,000-ruble annual cap, about $3,645, on crypto purchases by unqualified retail investors. Released Aug. 11, the draft instruction sets the limit per broker or exchange, so an investor who splits orders across two platforms can effectively buy twice as much. Asset managers that offer crypto are covered under the same rule.

The proposal leaves a narrow list of eligible tokens. Unqualified investors could buy Bitcoin and Ethereum, plus Tether's USDT stablecoin. Nothing else qualifies until it clears new listing standards.

The standards rest on measurable criteria, the Bank of Russia said. A cryptocurrency needs five years of documented overseas pricing, along with adequate market capitalization and trading volume. The requirement blocks newer tokens no matter how actively they trade.