The new service will operate from 06:50 to 23:50 Moscow time, in line with the exchange's stock market schedule. The National Clearing Centre will handle clearing, with transactions settled on the same day or the following day. The exchange will also offer swaps designed to help participants manage liquidity.
Retail Investors Face Annual Crypto Purchase Limit
Access to the new trading service will depend on an investor's classification. Ordinary retail investors must pass a test before trading and will be limited to cryptocurrency purchases worth 300,000 rubles per year through a single broker, equivalent to approximately $3,700.
Qualified investors, by contrast, will not face the same annual purchase cap under the announced rules.
The arrangement places cryptocurrency trading within the same exchange environment used by investors to trade shares in major Russian companies, including Sberbank and Gazprom.
Moscow Exchange and Clearing House Remain Under US Sanctions
The planned launch comes despite restrictions imposed by the United States in June 2024. The U.S. Treasury sanctioned both Moscow Exchange and the National Clearing Centre, while issuing wind-down licenses covering dealings with the two institutions.
The inclusion of USDT also raises questions about how stablecoin transactions will interact with sanctions compliance. Tether, the issuer of the dollar-pegged stablecoin, freezes wallets that appear on the U.S. Treasury's sanctions list.
CoinDesk has requested comment from Tether on how its wallet-freezing policy applies to USDT held through Moscow Exchange's clearing infrastructure. The supplied information does not include a response from the company.
Russia's Crypto Market Forecasts Point to Larger Trading Volumes
Russian officials have outlined substantial expectations for cryptocurrency activity under the country's evolving regulatory framework. Deputy Chairman Anatoly Popov told TASS in late August that trading under the new rules could reach as much as 4 trillion rubles, or approximately $49 billion at current exchange rates, during the first year.
Deputy Finance Minister Ivan Chebeskov estimated in February that Russia's cryptocurrency turnover stood at 50 billion rubles per day.
By comparison, Sberbank's projected first-year trading figure for the new exchange service works out to approximately 11 billion rubles per day. That estimate suggests a significant share of Russian cryptocurrency activity could continue taking place through offshore exchanges and peer-to-peer trading platforms rather than the domestic exchange.
The December 1 launch will provide a regulated domestic venue for eligible Russian investors to trade major cryptocurrencies. However, investor restrictions, U.S. sanctions and questions surrounding USDT compliance remain important factors for the new service.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
