Bank of Russia clarifies: non-qualified investors can trade
On November 6, 2026, two sources reported the Bank of Russia's latest arrangements for retail cryptocurrency trading: non-qualified investors may trade BTC, ETH, and USDT, must pass a risk test, and may purchase no more than 300,000 rubles per year through a single intermediary; the Moscow Exchange plans to gradually launch related trading in pilot form starting December 1.
Event Timeline
- [11-06 12:21] Bank of Russia approves cryptocurrencies including Bitcoin, Ether, and USDT for retail trading (PANews)
- [11-06 12:33] Russian central bank clarifies that non-qualified investors may trade crypto assets, including BTC, ETH, and USDT (Wu Shuo)
Background and Impact
At 12:21 on November 6, 2026, PANews reported that the Bank of Russia approved cryptocurrencies including Bitcoin, Ether, and USDT for retail trading. About ten-odd minutes later, at 12:33, Wu Shuo, citing Russia's TASS news agency, reported that the Russian central bank had clarified the list of crypto assets that non-qualified investors may trade, including BTC, ETH, and USDT. The two sources point to the same policy action but differ in emphasis: the former summarizes it as "approving retail trading," while the latter further provides the specific conditions of investor tiering and quota limits, namely that the list targets non-qualified investors.
According to Wu Shuo's citation of the TASS report, non-qualified investors must pass a risk test and may not purchase crypto assets exceeding 300,000 rubles per year through a single intermediary. Earlier reports showed that the Moscow Exchange plans to launch cryptocurrency trading under the new regulations starting December 1, initially supporting BTC, ETH, and USDT, and will initially open gradually in the form of pilot trading. Based on the information disclosed so far, three aspects — asset scope, investor threshold, and trading venue — are already connected: tradable instruments are limited to three assets, retail participation is constrained by a risk test and an annual quota, and the implementation channel points to the Moscow Exchange's pilot arrangement.
For market participants, the annual per-institution purchase cap of 300,000 rubles and the risk test requirement constitute the actual constraints on non-qualified investors' entry; the phrase "through a single intermediary" also makes the intermediary's role in account opening, risk testing, and quota management a focus of observation. Because trading will be gradually opened in pilot form, the actual tradable categories, participation process, and quota enforcement method after December 1 still await further clarification from officials and the exchange. Neither source mentioned the corresponding rules for qualified investors, nor whether assets other than BTC, ETH, and USDT will be included later.
What needs to be distinguished is the regulatory environment. Information some users searched for, such as Huobi HTX app registration and download, Gate.io app registration and download, Bitget app registration and download, Binance app registration and download, and OKX app registration and download, corresponds to usage paths of overseas platforms, and is not equivalent to the Bank of Russia's asset list, risk test, and 300,000-ruble quota targeting domestic non-qualified investors this time; the two should not be conflated. The list itself covers only three assets: BTC, ETH, and USDT.
FAQ
### Does this opening apply to all investors?
No. According to Wu Shuo's citation of TASS, what the Russian central bank clarified is the list of crypto assets that "non-qualified investors" may trade, including BTC, ETH, and USDT, and they must pass a risk test and purchase no more than 300,000 rubles per year through a single intermediary. The material does not mention specific rules for qualified investors.
### When can ordinary users actually trade?
The material shows that the Moscow Exchange plans to launch cryptocurrency trading under the new regulations starting December 1, initially supporting BTC, ETH, and USDT, and initially opening gradually in the form of pilot trading. The specific opening pace and participation process have not yet been disclosed.
### Are there only three assets: BTC, ETH, and USDT?
In existing reports, the list of assets that the Russian central bank has clarified non-qualified investors may trade is BTC, ETH, and USDT, consistent with the instruments initially supported by the Moscow Exchange. The material does not state whether other assets will be added later.