Moscow Exchange to Launch Regulated Crypto Trading in December
- The Moscow Exchange will begin offering cryptocurrency trading services on December 1.
- Unqualified investors will face investment caps and can only trade Bitcoin, Ethereum, and Tether USDT.
- Officials expect the move to repatriate offshore funds, though only about $9.29 billion of the estimated $46.43 billion trading volume may be regulated initially.
- The exchange is conducting pilot tests to integrate cryptocurrency trading into its existing infrastructure.
- Russia’s new legislation allows citizens to trade cryptocurrencies on national exchanges licensed by the Bank of Russia.
The Moscow Exchange’s initiative marks a significant step in integrating regulated cryptocurrency trading within Russia’s financial market, leveraging existing stock market infrastructure for digital assets. This development follows recent legislative changes that permit such activities under national oversight.
With an expected annual crypto trading volume of at least $46.43 billion, only about one-fifth is anticipated to go through regulated channels initially, reflecting ongoing challenges in shifting from unregulated markets.(Source)
