RUSSIA MOVES TO RESTRICT RETAIL CRYPTO TRADING TO BITCOIN, ETHER AND USDT

Summary from the TLDR Crypto newsletter

Russia's central bank will restrict retail crypto trading to Bitcoin, Ethereum, and USDT starting September 1, implementing legislation that created the country's first regulated trading framework. USDT is the sole approved stablecoin, excluding USDC, DAI, and other alternatives from regulated channels. Non-qualified investors face a 300,000 ruble (~$3,600) annual purchase cap per intermediary, while qualified investors have no ceiling, though the per-platform scope means aggregate exposure scales with the number of brokers accessed. Crypto payments within Russia remain prohibited under current law, drawing a firm line between regulated investment activity and transactional use.