Moscow Exchange to Launch Bitcoin Trading in December

Moscow Exchange will allow clients to trade cryptocurrencies starting in December, with testing already underway. Boris Blokhin, the exchange's senior managing director, confirmed that testing began a week ago during the Sber Investments forum. The exchange, the largest in Russia, will collaborate with a partner settlement digital depository for account management and will not require additional permits to initiate trading. This initiative follows Russia's law on digital currencies, effective since September, which establishes rules for crypto operations. Trades will utilize existing infrastructure, including exchanges and brokers, while new players like crypto exchangers and digital depositories will also participate. Sberbank, Russia's largest bank, was recently approved to custody bitcoin and facilitate digital currency transfers. President Vladimir Putin has previously acknowledged Bitcoin's significance, stating in 2024 that it cannot be banned. However, the Kremlin maintains strict regulations on cryptocurrency use, prohibiting it as a payment method since 2022. Unqualified investors are limited to purchasing bitcoin and stablecoins worth up to 300000 rubles annually through a single intermediary, while qualified investors face no limits on cryptocurrency purchases.

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