Moscow Exchange plans to start trading Bitcoin, Ether and USDT on Dec. 1 under Russia's new crypto law. Non-qualified investors face a purchase cap, while one commentator doubts a sanctioned venue will draw demand.
Moscow Exchange plans to launch trading in Bitcoin, Ether and Tether's USDT on Dec. 1, opening what it describes as Russia's first organized digital currency market. The exchange said Monday that pilot trades would begin as participants join the platform.
Trades will use its existing stock-market infrastructure and clear through the National Clearing Center (NCC), with trading hours from 6:50 am to 11:50 pm Moscow time. The venue will initially support same-day and next-day settlement, as well as swap transactions.
Purchase limits for retail investors
Non-qualified investors must pass a test before buying crypto. According to the exchange, they will be limited to purchases of 300,000 rubles (about $3,700) annually per broker.
The launch follows a Russian crypto law whose main provisions took effect Sept. 1. The law permits regulated trading but maintains a ban on cryptocurrency payments for goods and services in Russia.
Is there demand for a sanctioned exchange?
However, Moscow Exchange and the NCC have been under US sanctions since June 2024, when the UK also sanctioned the exchange. The European Union added it to its sanctions list in July 2026.
Sergey Mendeleev, founder of Russian cross-border payments platform Exved, told Cointelegraph he doubted the market would attract significant demand. He warned that investors could face "absolutely outrageous spreads" on the platform.
Mendeleev did see potential for cross-border payments. He said a venue where importers and exporters could buy and sell crypto directly with one another would be welcome, but questioned whether another intermediary would be competitive where traders negotiate over price differences as small as 0.05%.
Source: Cointelegraph
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