According to ChainCatcher, citing a Cryptopolitan report, Russian Deputy Finance Minister Ivan Chebeskov said USDC will be added to Russia’s approved list of cryptocurrencies for trading. The token will stand alongside USDT, Bitcoin and Ethereum on the list. His remarks provide further detail on how Russia intends to define the range of crypto assets that non-professional investors may legally access under the upcoming regulatory framework.
USDC to join USDT, Bitcoin and Ethereum
The statement follows an earlier position from the Bank of Russia, which had said that it would not add more tokens for the time being. Chebeskov, however, disclosed that USDC will also receive approval. Under the described rules, non-professional investors will only be allowed to invest in crypto assets that meet specific requirements. The key condition is that the cryptocurrency must have had an average market capitalization of more than 5 trillion rubles over the past two years, equivalent to about 70 billion U.S. dollars.
On that basis, the approved trading universe is centered on large-cap crypto assets. Chebeskov’s comments place USDC in the same approved category as USDT, Bitcoin and Ethereum. USDT and USDC are both stablecoins, while Bitcoin and Ethereum are among the largest crypto assets by market size. The report did not state whether any additional assets would be added to the list, nor did it provide a separate implementation date for USDC’s approval.
Annual cap set for non-professional investors
Chebeskov also said smaller fiat-backed stablecoins from friendly jurisdictions may be allowed. The examples cited include ruble stablecoins and United Arab Emirates dirham stablecoins. This extends the discussion beyond U.S. dollar-denominated stablecoins, while keeping the scope tied to assets and jurisdictions recognized under Russia’s regulatory approach.
Russia’s cryptocurrency regulatory bill must be passed before July 1. According to the report, non-professional investors will gain legal access to crypto for the first time, but their annual investment will be capped at 300,000 rubles, or about 4,000 U.S. dollars. Together, the approved asset list and the annual investment ceiling define the main boundaries for individual access to cryptocurrency trading under the pending rules.