Russia’s top stock exchange plans to start crypto trading after the legal framework is created
Key receivers
Russia's two largest exchanges are planning to start offering crypto trading after new laws are passed, confirming targets that have been flagged for years. The exchanges say they have the systems in place for trading, clearing and custody, and brokers are already testing crypto-related products.
Share this article
The Moscow Exchange (MOEX) and the St. Petersburg Exchange, Russia's two main stock exchanges, plan to start offering crypto trading after the regulatory framework is released, according to a recent RBC report.
While exchanges have long hinted that they are ready, those intentions have been reaffirmed by the Bank of Russia's proposal to open up a new crypto market to retail and qualified investors.
MOEX's proposed regulatory framework is based on experience in the foreign exchange market and has built strong capabilities in trading, clearing and settlement technologies.
Both exchanges indicated that they have developed the infrastructure and equipment for the crypto market and are ready to start trading as soon as the regulations are finalized.
According to the proposed framework, retail investors will be limited to transactions of up to 300,000 rubles per year in highly liquid tokens, using designated intermediaries, while professional investors will not be able to purchase anonymous crypto, even if they do not have any trading capital.
The framework, which maintains the classification of crypto as a high-risk asset, also prohibits the use of crypto for domestic payments and outlines additional regulations for crypto deposits and transactions.
Legal changes finalized for July 1, 2026, enforcement provisions, particularly around illegal activities of intermediaries, will take effect from July 1, 2027.
Major brokers and asset managers, meanwhile, are testing regulatory and accounting systems and developing products ranging from spot crypto and stablecoins to trust strategies and funds. Russian exchanges and brokers see the opportunity to bring millions of Russian users out of the gray market and into licensed investment channels.
