Russia's Largest Exchange Sets Date for Crypto Trading Launch as BTC, ETH and USDT Move Into Regulated Market
Russia’s largest exchange is preparing to open cryptocurrency trading in December, moving closer to integrating digital assets into the country’s established financial-market infrastructure.Regulated Crypto Trading in RussiaThe Moscow Exchange, or MOEX, has begun testing cryptocurrency-trading operations with professional market participants, Russian news agency Interfax reported on Thursday, citing senior executives from the trading platform.The exchange plans to work with a partner settlement digital depository, allowing participants to open accounts through the arrangement. The rollout will not require additional permits or licenses.Retail investors would be able to trade only Bitcoin , Ethereum and Tether , within a limit of 300,000 rubles ($3582.28). “Qualified investors” will be able to purchase all cryptocurrencies that will be traded on the exchange Read Also: Another Country Pivoting Toward Crypto?The planned launch follows Russia’s new law on digital currencies and digital rights that came into force in September, providing a full legal framework for cryptocurrency trading.Transactions may now take place through existing exchanges, brokers, and trustees, as well as through dedicated cryptocurrency exchanges and digital depositories.Interestingly, Russian President Vladimir Putin said in December 2024 that no power can ban Bitcoin regardless of what happens to the U.S. dollar.Russian companies have increasingly used Bitcoin and other cryptocurrencies as a means of circumventing the trade barriers disrupted by Western sanctions amid the ongoing Ukraine conflict. Read Also: Photo courtesy: Shutterstock