The Bank of Russia has approved a framework that will allow organized cryptocurrency trading to commence on November 22.
The ordinance was published Wednesday. It will take effect on Nov. 22. Exchanges must register brokers, trust managers, and central counterparties, maintain order books, calculate prices, and report trading activity to the regulator.
The bank also approved bitcoin, ether, and Tether's USDT for retail investors with a yearly cap of 300,000 rubles, while qualified investors face no limit. All traders must pass a knowledge test and read a risk disclosure.