The Bank of Russia is proposing to allow Bitcoin, Ethereum, and USDT on regulated trading platforms in the country, marking a major reversal four years after calling for their prohibition. Non-qualified individuals will be limited to an annual investment of 300,000 rubles, approximately 3,150 euros, per intermediary, while all investors must pass a prior knowledge test. The law regulating this market was promulgated on August 4 and will take effect on September 1. This opening aims to regulate a market that Russia could no longer control, enabling taxation and monitoring of crypto flows while maintaining the ban on domestic cryptocurrency payments.
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