Russia completes framework for cryptocurrency trading before November 17 launch
New regulations enable everyday investors to purchase BTC, ETH and USDT via authorized platforms, as Moscow Exchange prepares December crypto trading debut.
The central bank of Russia has completed its regulatory framework that will permit trading platforms to provide Bitcoin (BTC), Ether (ETH) and Tether USDt (USDT) access to everyday retail investors beginning Nov. 17.
According to the new framework, investors without qualified status will have the ability to acquire cryptocurrency worth up to 300,000 rubles (approximately $3,700) per year through individual intermediaries, which encompass brokers, asset management firms and cryptocurrency exchange service providers. While qualified investors are not subject to any purchasing restrictions, every investor is required to complete a mandatory testing procedure prior to engaging in trading activities.
The new directive expands upon the legislation that Russian President Vladimir Putin signed into law on Aug. 4, which created a framework for a regulated cryptocurrency marketplace operating under the supervision of the central bank.
Just one week following that signing, on Aug. 11, the Bank of Russia made public its preliminary regulatory guidelines, designating BTC, ETH and USDT as cryptocurrencies suitable for public market trading. This designation was based on their market capitalization metrics, average daily trading volume figures and the requirement of maintaining at least five years of documented price history on international exchanges.
The legislation officially came into force Sept. 1, and following this implementation, the Bank of Russia granted authorization to Sberbank, which holds the position as the nation's largest banking institution, to provide cryptocurrency exchange services during October.
These regulatory advancements are taking place while Moscow Exchange, which operates as Russia's premier securities trading venue and functions as a publicly traded entity, makes preparations to introduce cryptocurrency trading capabilities on Dec. 1, with initial offerings of the three approved cryptocurrencies through pilot transaction programs.
Russia to restrict peer-to-peer crypto trading
At the same time as broadening cryptocurrency access through regulated trading platforms, Russia is simultaneously implementing stricter controls on transactions conducted outside these official channels.
Peer-to-peer cryptocurrency trading conducted directly between parties will face a complete prohibition starting July 1, 2027, and transfers moving from regulated digital accounts into self-custody wallet solutions are currently banned under existing rules, as stated by the Bank of Russia. The nation continues to enforce a ban on utilizing cryptocurrency as a payment method for goods and services.