The Bank of Russia introduces rules for organized crypto trading, allowing Bitcoin, Ethereum and USDT transactions under regulatory supervision as Moscow Exchange prepares for a December 1 launch. Russia has approved a regulatory framework allowing domestic exchanges to begin organized cryptocurrency trading from November 22, 2026, marking another step toward integrating digital assets into the country’s financial system. The Bank of Russia announced the decision on November 11 after the Ministry of Justice registered an ordinance establishing requirements for cryptocurrency and digital rights trading. Under the framework, exchanges may introduce cryptocurrency trading from November 22, provided their trading rules receive prior approval from the central bank.
The regulations cover trading supervision, participant registration, transaction monitoring, pricing calculations and regulatory reporting. The announcement follows legislation introduced earlier this year establishing a regulated domestic cryptocurrency market, with separate requirements for institutional and retail investors. Russia’s largest securities exchange, Moscow Exchange, is preparing to launch cryptocurrency trading on December 1, initially supporting Bitcoin, Ethereum and Tether’s USDT.
Central Bank Establishes Requirements for Crypto Exchanges
The Bank of Russia’s ordinance requires exchanges to register participating brokers, trust managers and central counterparties before facilitating cryptocurrency transactions. Trading venues must maintain detailed records of orders and completed transactions, monitor market activity and calculate standardized pricing indicators. These indicators include current market prices, weighted-average prices and official closing prices. Exchanges must also submit trading information to the central bank using reporting procedures comparable to those governing traditional financial instruments.
The requirements are intended to strengthen market supervision while allowing existing financial infrastructure to support digital asset transactions. Separately, regulations taking effect on November 17 permit non-qualified retail investors to purchase Bitcoin, Ethereum and USDT through authorized intermediaries. Retail investors will be limited to cryptocurrency purchases worth 300,000 rubles annually through each intermediary, equivalent to approximately $3,600. Qualified investors will have access to a broader selection of cryptocurrencies without equivalent purchase limits.
Both categories must complete a mandatory knowledge assessment and acknowledge cryptocurrency investment risks before trading. The central bank selected eligible retail assets based on market capitalization, trading volumes and at least five years of pricing history on foreign exchanges.
Moscow Exchange Targets December 1 Cryptocurrency Launch
Moscow Exchange plans to begin pilot cryptocurrency trading on December 1, using its existing securities-market infrastructure. The initial offering is expected to include Bitcoin, Ethereum and USDT, with clearing and settlement arrangements involving the National Clearing Centre and an authorized digital depository. The exchange intends to introduce participants gradually while testing operational procedures and settlement infrastructure. Russia has already begun authorizing financial institutions to participate in the emerging market. In October, the Bank of Russia registered its first five digital depositories and four cryptocurrency exchange service providers, including institutions associated with Sberbank and VTB.
The broader regulatory framework stems from legislation that entered into force on September 1, 2026, establishing oversight of cryptocurrency exchanges, intermediaries and digital asset custodians. However, regulated cryptocurrency trading does not amount to unrestricted acceptance of digital assets for domestic payments. The November 22 authorization also does not guarantee that every exchange will begin operating immediately, as individual trading rules still require regulatory approval. The framework represents a significant expansion of Russia’s regulated cryptocurrency infrastructure while retaining central bank supervision over market access, trading operations and investor participation.
