Moscow Exchange Targets December Launch for Bitcoin Trading
Russia’s largest stock exchange is preparing to introduce cryptocurrency trading in December, marking another step toward bringing digital assets into the country’s established financial system.
The Moscow Exchange has begun testing its planned services with professional market participants, according to Boris Blokhin, the exchange’s senior managing director for sales and business development. Speaking to journalists at the Sber Investments forum, Blokhin said testing had started about a week earlier.
The exchange plans to work with a partner digital depository responsible for settlement-related operations. Market participants will open accounts through the facility to support crypto transactions. Blokhin added that the exchange would not require additional permits or licenses to begin offering the service.
The planned launch comes as Russia introduces a broader regulatory framework for digital currencies and digital rights. Legislation that took effect in September established rules for crypto-related activities and created a legal basis for trading through existing financial institutions.
Under the framework, cryptocurrency transactions can be handled by established market operators, including exchanges, brokers and trust managers. Other participants, such as crypto exchangers and digital depositories that record asset ownership, are also expected to play a role.
Russia’s traditional banking sector is also expanding its involvement in digital assets. Sberbank, the country’s largest bank, announced last month that it had received approval from the Bank of Russia to provide cryptocurrency custody services. The authorization covers digital currency record-keeping and asset transfers, including Bitcoin and other cryptocurrencies.
Despite the growing institutional infrastructure, access to crypto remains subject to restrictions. Russia has prohibited the use of cryptocurrencies as a means of payment since 2022, limiting their role in everyday domestic transactions.
Investment rules also differ depending on an individual’s classification. Unqualified investors face an annual limit of 300,000 rubles, approximately $3,556, for purchasing Bitcoin and stablecoins through a single intermediary. Qualified investors, by contrast, can access cryptocurrencies traded on exchanges and over-the-counter markets without the same purchase limit.
President Vladimir Putin has previously acknowledged Bitcoin’s resistance to government control. Speaking at a forum in 2024, he questioned whether anyone could prohibit the cryptocurrency. However, the government has continued to maintain restrictions on how digital assets can be used and who can invest in them.
Putin signed legislation in October formalizing the regulation of digital currencies and digital rights, supporting the country’s broader effort to establish rules for the sector.
The Moscow Exchange’s planned December launch would bring cryptocurrency trading closer to Russia’s established financial markets. Its progress will depend on the exchange’s testing process and the implementation of the country’s evolving regulatory framework.