Key Takeaways
- Moscow Exchange plans to launch cryptocurrency trading on December 1, initially supporting bitcoin (BTC), ether (ETH) and USDT, using its existing trading and clearing infrastructure.
- Retail investors will face restrictions, including mandatory knowledge assessments and annual purchase limits of 300,000 rubles (approximately $3,700) per broker for non-qualified investors.
- The launch follows an October trading pilot, with Russia seeking to bring crypto activity into regulated markets.
The exchange confirmed the plans in a Nov. 2 announcement, detailing the trading infrastructure, settlement options, and investor restrictions that will accompany the launch. The new market will operate under Russia’s recently enacted cryptocurrency legislation, which took effect on September 1.
Moscow Exchange said the initial rollout will involve pilot transactions, with financial institutions and other participants gaining access as they complete preparations. The exchange reported interest from traditional securities traders, their clients, and businesses already using digital assets for investments and payments.
Trading will take place through the exchange’s existing stock market infrastructure, with transactions processed through the National Clearing Center (NCC). The market will operate from 6:50 a.m. to 11:50 p.m. Moscow time, matching the exchange’s regular securities trading schedule.
Bitcoin (BTC), ether (ETH), and Tether’s USDT stablecoin will be the first supported assets, with trading offered in both address-based and addressless modes. Moscow Exchange said it intends to expand the selection over time to include additional international cryptocurrencies and Russian digital assets.
The exchange also confirmed that customers will have access to same-day and next-day settlement options, known as TOD and TOM, respectively. Swap transactions will also be available to help market participants manage liquidity.
Retail participation will remain restricted under Russia’s new regulatory framework. Non-qualified investors must pass a knowledge assessment before purchasing cryptocurrencies and will be limited to 300,000 rubles, approximately $3,700, in annual purchases through each broker.
Ready to Launch After Pilot
The announcement builds on preparations previously reported by Bitcoin.com News in October, when Moscow Exchange executive Boris Blokhin revealed that the platform had begun testing cryptocurrency transactions with professional market participants.
Speaking on Oct. 8, Blokhin said the exchange had started its pilot roughly a week earlier and was targeting Dec. 1 for the launch. He also explained that Moscow Exchange could introduce crypto trading using its existing licenses without obtaining additional regulatory approvals.
The initiative represents a significant development in Russia’s efforts to bring cryptocurrency transactions into its regulated financial system, potentially redirecting activity from offshore platforms and informal trading channels.
However, the transition could face challenges. As Bitcoin.com News previously reported, Russian banking giant Sberbank estimated that cryptocurrency trading could reach at least 4 trillion rubles, approximately $46 billion, during the first year of the new regulatory framework.
Despite that substantial projected volume, Sberbank anticipated that only about 20% of transactions would pass through regulated exchanges, with the remainder continuing outside officially supervised markets.
Moscow Exchange’s December launch will provide an early test of whether Russia’s new regulations and established financial institutions can attract a larger share of the country’s cryptocurrency trading activity.
