Russia’s central bank is considering new rules that would restrict retail crypto trading on regulated exchanges to Bitcoin, Ether and USDT. Tether’s dollar-linked stablecoin would be the only stablecoin included in the initial approved group.

Under the proposed framework, non-qualified investors would face a yearly crypto purchase limit of 300,000 rubles, equivalent to roughly $3,600, for each intermediary they use. Qualified investors would not be subject to the cap.

The proposed asset whitelist provides further details on legislation approved in July, which is set to allow regulated cryptocurrency trading in Russia beginning Sept. 1. The legislation did not previously identify which tokens would be available to retail traders. Cryptocurrency payments within the country would continue to be prohibited.

The way the purchase ceiling is structured could give investors a route to larger overall exposure. The 300,000-ruble limit would apply independently to each broker or exchange rather than being calculated across all of an investor’s crypto purchases.

As a result, retail investors could potentially exceed the stated annual threshold by using multiple intermediaries, despite the restrictions imposed on individual platforms.