Russia Clears Bitcoin, Ethereum and USDT for Public Trading: What It Means for Prices

The Bank of Russia announced on Tuesday that it has included $Bitcoin, $Ethereum and Tether's USDT in the list of cryptocurrencies eligible for public circulation on Russian exchanges. The three assets are the first named under the eligibility criteria set out in the country's new digital assets law.The framing matters. This is a draft directive, open for public feedback until August 24, ahead of the framework's entry into force on September 1. Russian state media has reported it as a completed approval. The regulator's own timetable describes a consultation that has not yet closed.What exactly did the Bank of Russia decide?The selection follows criteria written into Federal Law No. 282-FZ, signed on August 4 and titled "On Digital Currencies and Digital Rights." Eligible assets must clear an average market capitalisation above 5 trillion rubles, roughly $61 billion, and average daily trading volumes above 1 trillion rubles, roughly $12 billion, measured over the previous two years. They must also carry a pricing history on foreign platforms spanning at least five years.Bitcoin, Ether and USDT are the only assets currently meeting that bar. Central Bank First Deputy Governor Vladim...