Russia to Cap Retail Crypto Buys at 300,000 Rubles a Year, Limit Access to BTC, ETH, and USDT

The Central Bank of Russia will restrict general retail cryptocurrency purchases to Bitcoin (BTC), Ether (ETH), and Tether (USDT) starting from July 1, and will impose an annual purchase cap of 300,000 rubles. According to NS3.AI, non-professional investors will be required to pass a risk assessment test before they can invest under the new rules. Professional investors will also need to take the same risk assessment test, but they will face fewer limits on which crypto assets they can buy and the amounts they can invest. Russia recognizes cryptocurrencies as an asset, but their use as a means of payment remains banned.