Moscow Exchange plans to launch regulated cryptocurrency trading on December 1

The largest securities exchange in Russia, the Moscow Exchange, is conducting a pilot program for cryptocurrency trading with professional participants, planning to launch regulated cryptocurrency trading services on December 1. Boris Blokhin, Managing Director of the Exchange's Securities Market, stated that the relevant tests began a week ago. Boris Blokhin pointed out that the existing licenses of the Moscow Exchange already cover cryptocurrency trading services, and there is no need to apply for additional permits or licenses.

The relevant regulations for the cryptocurrency market in Russia came into effect on September 1, allowing citizens to trade cryptocurrencies on domestic exchanges licensed by the Central Bank of Russia. Investors who do not qualify as accredited investors will face investment limits, and trading will be restricted to Bitcoin, Ethereum, and USDT. Sberbank expects that the scale of cryptocurrency trading in Russia in its first year will reach at least 4 trillion rubles, with only 20% completed through exchanges, while the remaining approximately 80% will still occur through unregulated channels.