Russia's central bank plans to keep Bitcoin, Ethereum, and USDT as the only cryptocurrencies available to non-qualified investors under the country's upcoming digital asset framework, leaving XRP outside the initial list despite its growing role in Russia's regulated financial infrastructure. The Bank of Russia confirmed that it does not intend to expand the list of cryptocurrencies available to retail investors during the first stage of implementation of the new ”Digital Currency and Digital Rights” law. The legislation passed its first reading in the State Duma and is expected to take effect on July 1, 2026. First Deputy Chairman Vladimir Chistyukhin said the regulator continues to view digital assets as highly volatile instruments with elevated risks. According to the central bank, retail exposure to cryptocurrencies should remain limited while the market develops. Russia Keeps Initial Crypto Access Limited Despite earlier reports, under the current framework, non-qualified investors will only have access to Bitcoin, Ethereum, and the USDT stablecoin. Chistyukhin said the regulator has no plans to add additional cryptocurrencies immediately after the law takes effect. The central bank also rejected proposals to increase investment limits for retail users. The annual limit remains set at 300,000 rubles per professional participant, which is roughly equivalent to about $4,000. According to Chistyukhin, the restrictions were designed to reduce potential losses for retail investors. He noted that average balances in brokerage and trust management accounts are below the proposed threshold, making the existing limit sufficient. The regulator also pointed to risks associated with stablecoins. Chistyukhin stated that USDT itself has demonstrated vulnerabilities because assets can potentially be frozen or blocked. Despite those concerns, USDT remains part of the approved list due to its liquidity and widespread market use. Russian authorities had previously considered allowing additional digital assets, including domestic stablecoins. Chistyukhin said expansion could be considered later if local token projects gain wider adoption. XRP Gains Institutional Presence Through Moscow Exchange Although XRP was excluded from the retail access list, the asset has continued to gain traction inside Russia's regulated financial sector. The Moscow Exchange introduced the MOEXXRP index, providing an official benchmark based on pricing data collected from major international trading platforms. The benchmark was designed to offer institutional participants a standardized reference for XRP-related products. The exchange has also launched ruble-settled XRP futures. These products allow qualified investors and institutions to gain exposure to XRP within Russia's regulated financial system without relying on foreign exchanges. Under the upcoming legislation, access to assets such as XRP, Solana and Cardano will remain limited to professional and qualified investors. Retail investors will not be permitted to trade those assets directly during the initial phase of regulation. Moscow Exchange CEO Viktor Zhidkov previously indicated that three to five major cryptocurrencies could eventually be available for listing on Russian exchanges. However, the final decision remains with the central bank. Digital Asset Framework Scheduled for July 2026 Russia's draft law establishes rules for digital currency trading and identifies the participants that can operate within the sector. Exchanges, brokers, management companies, depositories, and exchangers are all included in the regulatory structure. Both qualified and non-qualified investors will be required to complete knowledge tests before purchasing digital assets. The framework aims to establish standards for market access while introducing investor protection measures. Deputy Finance Minister Ivan Chebeskov has supported broader access to stablecoins issued in friendly jurisdictions. He pointed to ruble-backed stablecoins created outside Russia, including projects launched in Kyrgyzstan. At least one Russian company has already issued a token for international settlements, according to the central bank. Officials said they will monitor how those projects develop before considering any expansion of the approved asset list.
