Russia's leading stock exchanges, Moscow Exchange and St. Petersburg Exchange, are set to introduce cryptocurrency trading once regulations are finalized. The Bank of Russia proposes limits for retail investors while granting professionals broader access. This move aims to shift crypto activity from unregulated markets to licensed platforms.
Russia's financial markets are gearing up for a significant expansion into cryptocurrencies. The Moscow Exchange (MOEX) and St. Petersburg Exchange (SPB), the country's two primary stock platforms, have confirmed their readiness to launch crypto trading as soon as the legal framework is established. According to reports from RBC and other sources, these exchanges have long prepared their infrastructure, drawing on experience from foreign exchange markets.
The Bank of Russia's proposed regulations distinguish between retail and professional investors. Retail participants would face an annual transaction cap of 300,000 rubles and must use licensed intermediaries. Access would be limited to highly liquid assets like Bitcoin and Ethereum, with cryptocurrencies classified as high-risk and prohibited for domestic payments. Professional investors, however, would encounter no transaction limits, though they cannot purchase anonymous tokens to curb risks like money laundering.
A representative from MOEX stated, “The infrastructure and technology we have developed for foreign exchange markets are directly applicable to the crypto market. We are ready to start crypto trading when the regulations are approved.” This preparation includes systems for trading, clearing, and custody of digital assets.
The timeline outlines final legislative changes effective by July 1, 2026, with enforcement against illegal intermediary activities starting July 1, 2027. This phased approach allows institutions to test and adapt systems for cryptocurrencies and stablecoins. By channeling millions of Russian users into regulated environments, the framework seeks to enhance transparency and mitigate risks from the gray market, where much crypto activity currently occurs.
