Russia limits retail crypto purchases to BTC, ETH, USDT under new 2026 rules

Retail access tightly restricted

Under the incoming rules, Russian retail investors will be restricted to purchasing only Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The annual purchase limit for individuals will be capped at 300,000 rubles, or approximately $3,632. This restriction includes purchases made through brokers, crypto exchanges, and asset managers.

Individuals must also undergo a formal assessment that tests their ability to understand and manage the risks associated with trading digital assets. Those who meet the requirements may qualify for advanced investor status, which would allow access to a broader selection of cryptocurrencies beyond BTC, ETH, and USDT.

Retail investors in Russia face a 300,000 ruble yearly limit on crypto purchases, applying even if funds are transacted via brokers, exchanges, or other intermediaries; only those passing a special evaluation can access a wider range of digital assets.

Rules for businesses and exceptions

For Russian businesses, the regulations specify that only companies listed in a designated registry will be permitted to conduct transactions involving digital assets. In early August, President Vladimir Putin signed the law codifying these rules, which continue to prohibit the use of cryptocurrencies as a payment method for domestic transactions.

However, select exceptions apply. Digital assets may be used to settle certain foreign trade contracts, and the legalization of income from crypto mining remains in place. The framework also accommodates security settlements and the circulation of digital rights tied to digital assets.

One key area of focus is stablecoins. Sberbank, the largest bank in Russia, has asked authorities to evaluate the potential use of USDT as a settlement layer for select operations, highlighting growing institutional interest in stablecoins for cross-border trade and settlements.

Mini dictionary: Sberbank, Russia’s largest banking institution and a state-owned enterprise, is a major player in the country’s financial sector, providing banking, investment, and payment services for individuals and businesses.

Central Bank prioritizes investor protection

The Central Bank of Russia emphasized that these measures aim to shield non-qualified investors from the unpredictable volatility associated with cryptocurrency prices. Liquidity remains a primary consideration for asset approval, which is why major tokens such as XRP and Solana (SOL) have not been made widely available to retail investors in the initial phase. The restrictions are intended to prevent retail investors from exposure to assets with low liquidity and greater price swings.

For institutional lenders such as Sberbank, the inability to use USDT for legal settlements could increase risk in the event of borrower defaults. Meanwhile, retail holders of XRP in Russia face similar obstacles, as they must successfully pass the special evaluation procedure before being able to purchase beyond the prescribed limit.

Liquidity and future prospects

On the Moscow Exchange (MOEX), leveraged XRP trading is available, but daily volumes remain subdued at just a few thousand dollars, reflecting low demand and liquidity. American-developed cryptocurrencies generally see limited participation from Russian investors due to current regulatory preferences.

Looking ahead, proposed amendments in 2027 may increase the number of cryptocurrencies accessible to retail investors, potentially broadening the range of digital assets available for purchase in Russia.