Russia will permit domestic exchanges to launch cryptocurrency trading starting November 22, 2026, contingent upon the Bank of Russia’s approval of each exchange’s operating procedures. This move is intended to establish a supervised and regulated environment for digital asset markets ahead of the anticipated debut of crypto services by the Moscow Exchange in December.
Regulatory framework and exchange requirements
The central bank directive, registered by the Russian Ministry of Justice, provides a formal legal foundation for Russian exchanges to offer digital asset trading. Exchanges are allowed to utilize existing financial market infrastructure but must first secure explicit approval for their trading protocols before beginning operations.
According to the directive, exchanges are required to register brokers, trust managers, and central counterparties to enhance market oversight and compliance. Detailed record-keeping of orders and transactions will be mandatory, reflecting a commitment to monitor market activity closely.
The regulation further obliges exchanges to publish current prices, volume-weighted averages, market, and closing values of digital assets. This pricing transparency aims to bring consistency and reliability to digital asset market data.
Exchanges must submit detailed reports on trading activities and transaction results to the Bank of Russia, using procedures already in place for other financial instruments.
In July, the Bank of Russia introduced standards for organized trading and set protocols for digital depositories, which are tasked with maintaining records of asset ownership and transfers separate from exchange operators.
Limits and access for investors
On November 6, the Bank of Russia authorized Bitcoin, Ether, and USDT as eligible for nonqualified investors, with the asset list set to take effect on November 17. Exchanges may only offer these three assets for trading to retail participants at launch.
Nonqualified investors—essentially the general public—are limited to purchasing up to 300,000 rubles in cryptocurrencies per year through a single intermediary, including brokers, trustees, or licensed exchanges, either on exchange platforms or over-the-counter markets. Each intermediary must apply this limit independently, so investors working through multiple intermediaries will not have their purchases aggregated under a single cap.
Qualified investors face no such limits and have access to a larger selection of digital assets. All investors, regardless of status, are required to complete risk assessments prior to any crypto transactions. This process is designed to reduce the potential risks for inexperienced market participants.
The Bank of Russia indicated that digital assets qualified for retail investment were selected based on criteria including market capitalization, average daily trading volumes, and a stable price history of at least five years on international exchanges.
Moscow Exchange launch and operational details
Moscow Exchange aims to launch crypto trading with pilot transactions starting December 1, pending successful integration by market participants. In a statement on November 2, the exchange confirmed that Bitcoin, Ether, and USDT would be the initial digital assets available for trading on the platform.
The exchange will rely on market technology currently used for equities and the National Clearing Centre’s systems to facilitate the clearing and settlement of crypto transactions. Trading on the Moscow Exchange will be available from 6:50 a.m. to 11:50 p.m. local time, providing extended access for participants.
Participants will have access to anonymous order books and options for negotiated trades. Moscow Exchange will also introduce same-day and next-day settlement, as well as swaps designed for liquidity management.
Registration and compliance obligations
In October, the Bank of Russia approved the registration of four cryptocurrency exchanges and five digital depositories. These entities must align all operational and transactional activities with regulatory requirements by September 1, 2027. Registration contributes to market stability, but does not immediately authorize these exchanges to start trading; they still require formal approval under the new November 22 regulatory framework.
With regulated crypto trading set to become available in Russia, investors tracking the rollout of Bitcoin, Ether, and USDT on domestic exchanges can benefit from tools that allow real-time price monitoring. CryptoAppsy offers continuous chart tracking and customizable price alerts, enabling users to respond quickly to major developments as Russia’s market infrastructure expands.
