Moscow Exchange sets Dec. 1 to launch Bitcoin and Ethereum trading
Russia's Bank of Russia has finalized rules allowing retail trading of Bitcoin, Ethereum, and USDT starting November 17, with the Moscow Exchange planning a December 1 launch of pilot trades.
The Bank of Russia announced on November 6 that its final retail asset list will include Bitcoin, Ethereum, and USDT, with the directive taking effect November 17. Non-qualified investors will face a 300,000-ruble annual purchase cap per intermediary and must undergo testing before transacting.
The Moscow Exchange separately announced plans to begin digital currency trading on December 1, starting with pilot trades and gradually onboarding participants. This timeline is distinct from the regulatory effective date of November 17.
Purchase Limits and Testing Requirements
Under the new rules, non-qualified investors can purchase cryptocurrencies through brokers, asset managers, crypto exchangers, on exchanges, or over-the-counter. The 300,000-ruble annual limit is calculated as the ruble sum of acquisition costs for digital currencies already purchased and those being bought through each intermediary during the calendar year.
All investors, regardless of qualified status, must undergo testing and familiarize themselves with crypto investment risks before conducting transactions. The Bank of Russia selected these assets based on market capitalization, average daily trading volume, and at least five years of foreign-market pricing history.
Qualified Investors Face Fewer Restrictions
Qualified investors will be able to access any cryptoassets without the non-qualified investor asset list and purchase limit restrictions. However, they must still complete the testing and risk familiarization requirements before trading.
The directive defines the calculation as the ruble sum of acquisition costs for digital currencies already bought and being bought through that broker during the calendar year.
Moscow Exchange Implementation Plan
The Moscow Exchange announced on November 2 that it will enable digital currency transactions starting December 1, with Bitcoin, Ethereum, and USDT forming the initial instrument list. The exchange plans to use its stock-market technology and include transactions in National Clearing Centre clearing.
The December 1 launch represents a gradual pilot rollout rather than a universal retail launch date. Participants will join gradually as they become ready, with testing availability not specifically dated in the announcements.
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