XRP Misses Russia’s Retail Crypto List as Bitcoin, Ethereum and USDT Qualify

TLDR

• Russia proposes limiting retail crypto purchases to Bitcoin, Ether and USDT under new Bank of Russia rules.
• XRP is excluded from the proposed retail cryptocurrency list based on the current liquidity criteria.
• Non-qualified investors could face a 300,000-ruble annual purchase limit through each intermediary.
• Qualified investors would be allowed to trade cryptocurrencies available on exchange and OTC markets without purchase limits.
• The Bank of Russia will accept public comments on the proposed crypto rules through August 24.

XRP has been left off Russia’s proposed retail cryptocurrency list, while Bitcoin, Ethereum and Tether’s USDT would qualify under new rules from the Bank of Russia.

The central bank has proposed limiting non-qualified investors to cryptocurrencies that meet specific liquidity standards. The criteria include market capitalization, average daily trading volume and at least five years of pricing history on foreign exchanges.

Under the draft framework, retail investors could purchase up to 300,000 rubles of eligible crypto per year through each broker, exchange or asset manager. Qualified investors would not face the same purchase limit and could trade cryptocurrencies available on exchange and over-the-counter markets.

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