Russia adds USDC to approved crypto list
- Russia plans to approve USD Coin for its regulated cryptocurrency market alongside Bitcoin, Ethereum and Tether.
- The proposal would allow retail crypto investing under a regulated framework with annual limits for non-professional investors.
- Officials said the move supports broader crypto market development while maintaining eligibility and compliance requirements.
Russia's Finance Ministry said USD Coin will be added to the country's approved cryptocurrency list alongside Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH) and Tether.
The decision marks a change from earlier indications by the Central Bank of Russia that no additional cryptocurrencies would be added to the approved list.
“USDC will also be approved,” said Russian Deputy Finance Minister Ivan Chebeskov.
Under the proposed framework, non-professional investors will be limited to cryptocurrencies with an average market capitalisation above 5 trillion rubles, or about US$70 billion, over the previous two years.
The legislation must be enacted by July 1 to allow retail investors legal access to cryptocurrency trading with an annual investment limit of 300,000 rubles, and following the announcement there was no immediate market reaction available for the affected assets.
Chebeskov also said fiat-backed stablecoins from friendly jurisdictions, including ruble-backed and UAE dirham-backed tokens, may qualify for inclusion under the regulatory regime.
Russia has been expanding its cryptocurrency framework in recent years as policymakers seek to establish regulated access to digital assets while maintaining compliance with counter-terrorism financing requirements.
At the time of reporting, Bitcoin price was $65,820.07.
