Moscow Exchange to Launch Bitcoin and Ethereum Trading on December 1
The Moscow Exchange is set to launch trading for Bitcoin and Ethereum on December 1, 2023. This initiative aims to broaden access to cryptocurrency trading in Russia.
Non-qualified buyers will be subject to an annual cap of 300,000 rubles per intermediary, along with required testing to participate in the trading activities. The exchange is preparing for a pilot phase to ensure a smooth rollout.
Updated 09:31 UTC
Moscow Exchange to Launch Bitcoin and Ethereum Trading on December 1
Russia's largest Moscow Exchange is set to launch a new digital asset market on December 1, allowing trading of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
The exchange will utilize its existing stock-market technology for transactions, processed through the National Clearing Centre (NCC), and will initially support same-day and next-day settlements.
Retail investors will face an annual purchase limit of 300,000 rubles and must complete testing on risks before trading. Qualified investors will have fewer restrictions but will still need to acknowledge the risks involved.
The initiative comes amid concerns regarding international sanctions imposed on the Moscow Exchange, which could affect its attractiveness to participants.
The launch represents a significant move towards integrating cryptocurrency trading within Russia's regulated financial framework, although its success will depend on various factors including liquidity and trading costs.
Comments
Comments are moderated before publish.
No comments yet — be the first.