The regulator, which for years kept cryptocurrency at arm's length, has suddenly allowed retail investors to buy bitcoin, ether and USDT. From 17 November 2026, non-qualified investors will be able to purchase these assets through brokers, asset managers and exchange offices — but no more than 300 thousand rubles a year through a single intermediary, and only after passing a test on knowledge of the risks.
The Bank of Russia selected precisely these three instruments according to strict criteria: market capitalisation, average daily trading volume and a minimum five-year history of quotations on foreign venues. Qualified investors face no restrictions, while everyone else gets only the most liquid coins. According to the regulator, this approach is intended to reduce the likelihood of sharp losses from volatility.
Behind the outward caution lies a deeper calculation. The state does not want to lose control over a growing market entirely, but it is also not prepared to leave citizens alone with unpredictable fluctuations. The limit of 300 thousand rubles is not just a figure but a kind of "ceiling for the experiment": you can try, but you won't be ruined. Before any transaction you will have to pass testing and read a risk warning — a classic technique that forces a person to think for at least a minute before pressing the "buy" button.
For an ordinary person this looks like permission to place a small bet in a casino where the cashier checks your passport and issues a voucher for a limited sum. The money won't vanish overnight, but nor should you expect fairy-tale riches. Psychologically, this approach reduces the fear of the unknown, but at the same time it emphasises: crypto is not retirement savings, but rather an experimental asset in a portfolio.
The Moscow Exchange is already planning to launch trading in these instruments on 1 December. That means familiar brokerage apps will soon offer new buttons. The question is not whether to enter crypto at all, but how much room in your personal budget you are prepared to allocate — and whether you are ready to accept that even the most "permitted" assets can drop by tens of percent in a week.
The Central Bank's decision is not an invitation to chase multiples, but a reminder: any investment requires discipline and an understanding of one's own limits. Those who manage to treat the new instrument as a limited part of a portfolio rather than a lottery will have a chance at a conscious experience. The rest are better off watching from the sidelines for now.
