Russia finalizes rules letting retail investors buy Bitcoin, ether, and USDT from November 17

Russia's central bank has finalized rules that allow retail investors to buy Bitcoin, ether, and Tether's USDT through intermediaries starting November 17, the Bank of Russia said on November 6.

What the rules allow

The three assets were selected based on market capitalization, average daily trading volume, and at least five years of price history on foreign exchanges, the Bank of Russia said.

Non-qualified investors may buy up to 300,000 rubles a year through a single intermediary, such as a broker, trust manager or crypto exchange office. Purchases can be made on exchange and over-the-counter markets. Qualified investors face no purchase limit. Everyone must pass a test before trading.

How it fits the new law

The rules implement Federal Law No. 282-FZ, signed on August 4, most of which took effect on September 1, 2026. Under the same framework, direct peer-to-peer crypto trading will be prohibited from July 1, 2027, according to the Bank of Russia.

The Moscow Exchange plans to start crypto trading on December 1, initially with pilot transactions in the three assets.

Why it matters

Routing retail purchases through intermediaries, with caps and a mandatory test, brings that activity under Bank of Russia supervision, and the ban on direct peer-to-peer trading from July 1, 2027, pushes users toward the regulated route.

What it could mean for traders

The cap applies per intermediary and only to non-qualified investors; qualified investors face no limit. How much demand the regulated channel draws will depend on how many intermediaries and investors sign up. Russia was Europe's largest crypto market by value received in the 12 months to June 2025, according to Chainalysis, so the rules apply to a large existing market. The November 17 start and the Moscow Exchange launch on December 1 are the dates to watch.