Russia Caps Retail Crypto Buys at 300,000 Rubles Per Broker

Russia's central bank has locked in the rulebook for retail crypto trading, and it comes with a hard ceiling. Nonqualified investors may buy no more than 300,000 rubles' worth of crypto each year through a single intermediary. The limit is applied provider by provider, so spreading purchases across several platforms effectively multiplies the allowance.

Intermediaries — brokerages, asset managers and crypto trading service providers — can start offering Bitcoin, Ether and Tether to retail clients on Nov. 17. Every investor must clear a test before they trade, regardless of which category they fall into.

Qualified investors face no purchase ceiling at all. Their status alone decides whether the 300,000-ruble cap kicks in, while the testing requirement applies to both qualified and nonqualified buyers.

The Moscow Exchange plans to begin crypto trading on Dec. 1, two weeks after the framework takes effect. It is the only venue named in the rollout so far.

Russia also drew a line under peer-to-peer crypto. Direct trades between individuals are scheduled to be prohibited from July 1, 2027, a deadline that steers activity toward regulated intermediaries.