Moscow Exchange to Launch Bitcoin Trading on December 1, 2023

The Moscow Exchange, Russia's largest securities platform, has announced plans to commence cryptocurrency trading on December 1, 2023. This decision comes after the exchange began testing operations with professional market participants, as confirmed by Boris Blokhin, the exchange’s senior managing director for sales and business development.

The launch is part of a broader regulatory framework established by Russia's law on digital currencies and digital rights, which took effect in September. This framework allows existing exchanges, brokers, and asset managers to play formal roles in the digital asset market.

Under the new regulations, unqualified investors will face restrictions on the types of assets they can purchase and the amount they can invest. They will be limited to buying major cryptocurrencies such as Bitcoin, Ethereum, and USDT, with an annual investment cap of 300,000 rubles (approximately $3,556) through a single intermediary. In contrast, qualified investors will have broader access without such limits.

The Moscow Exchange plans to utilize a partner digital depository for settlement, enabling market participants to open accounts through this infrastructure. Blokhin indicated that no additional permits or licenses would be necessary for the trading launch.

This initiative marks a significant shift from the exchange's previous focus on crypto derivatives to direct cryptocurrency trading, integrating digital assets into established market structures. The exchange has prior experience with crypto-linked products, having previously introduced perpetual futures tied to Bitcoin and Ethereum.

The upcoming launch is expected to enhance the integration of cryptocurrency trading within Russia's traditional capital markets, a move that aligns with the government's cautious approach to regulating digital assets.