Russia’s central bank announced that regulated cryptocurrency exchanges may begin offering trading services on November 22, provided their trading rules are approved by the regulator.
Regulatory framework
The order, released on November 11 by the Ministry of Justice, outlines requirements for exchanges, including registration of brokers, trustees and central counterparties, record‑keeping of transactions and orders, and monitoring of trading activity. Platforms must also be able to calculate current, weighted average, market and closing prices for supported assets and report trading results to the central bank.
Retail investor limits
Earlier, on November 6, the central bank authorized Bitcoin, Ethereum and USDT for non‑qualified (retail) investors, with a purchase cap of 300,000 rubles (about $3,700) per year. Qualified investors may trade a broader range of cryptocurrencies without a cap, but both groups must pass an investment knowledge test.
Exchange rollout
Moscow Exchange, Russia’s largest securities market, plans to launch cryptocurrency trading on December 1, after testing with professional participants. The exchange will use a partner digital depository for settlement and custody, with brokers providing customer access.
Broader context
Russia’s comprehensive cryptocurrency legislation, effective September 1, sets rules for exchanges, intermediaries and digital depositories. While crypto payments remain prohibited domestically, cross‑border settlements with approved assets are permitted.
