The Moscow Exchange, the largest trading platform in Russia, intends to introduce cryptocurrency trading for its clients starting in December. Boris Blokhin, senior managing director for sales and business development, confirmed that the exchange has already commenced testing operations with professional market participants.
The platform will operate through a partner digital depository where participants will maintain accounts. According to the exchange, no additional licenses or permits are required to initiate these services. The initiative aligns with the national law on digital currencies and digital rights that came into effect in September.
The regulatory framework in Russia currently restricts the use of cryptocurrency as a payment method, a ban in place since 2022. Unqualified investors are limited to purchasing bitcoin and stablecoins through a single intermediary with an annual cap of 300 000 ₽. Qualified investors face no such restrictions.
The infrastructure for these trades will utilize existing brokers, exchanges, and trust managers, alongside new entities like crypto exchangers and digital depositories. Additionally, Sberbank recently received approval from the Bank of Russia to provide custody services for bitcoin and other digital assets.
