Russia clears crypto exchange trading from Nov. 22 under central bank rules

Crypto News

Russia clears crypto exchange trading from Nov. 22 under central bank rules

Topics in article

Bitcoin Ethereum

Russian exchanges can begin cryptocurrency trading from Nov. 22, provided the Bank of Russia approves their trading rules. Moscow Exchange plans to launch on Dec. 1 with Bitcoin, Ether and USDT.

Russia has cleared domestic exchanges to start cryptocurrency trading from Nov. 22, subject to central bank approval of their trading rules. The Russian Ministry of Justice has registered the Bank of Russia directive that sets the requirements for organized trading, according to an Interfax report cited by crypto.news.

Exchanges must register participants and report to the central bank

Before they launch, exchanges must set up procedures for registering market participants, keeping transaction records and monitoring trading. They must also keep separate registers of orders and completed trades, and calculate current, weighted average, market and closing prices.

Crypto Briefing adds that the Nov. 22 start depends on agreements still being worked out over reporting, monitoring and pricing. It also reports that trades are expected to settle on the same day through the National Clearing Centre.

Retail investors get three assets and a cap

A separate decision covers who can buy. The Bank of Russia confirmed that Bitcoin, Ether and Tether's USDT are approved for nonqualified investors from Nov. 17.

Those investors can buy up to 300,000 rubles in cryptocurrencies annually through each intermediary. Both investor categories must pass a knowledge test before trading.

Moscow Exchange targets Dec. 1

Moscow Exchange plans to launch cryptocurrency trading on Dec. 1 and has been testing transactions with professional market participants. Its service will support Bitcoin, Ether and USDT, with a partner digital depository handling custody and settlement.

In October, the central bank approved its first operators, admitting four cryptocurrency exchange providers and five digital depositories. They must bring their operations fully into line with the new legislation by Sept. 1, 2027.

Sources: crypto.news, Crypto Briefing

Trading involves risk.

Author

PrimeXBT

Our Editorial Team consists of leading experts with a proven record in the fields of trading, cryptocurrencies, blockchain and finance. We thoroughly research the sources of information in order to provide readers with quality content that serves edu...

Read author’s articles

Risk Disclaimer

Disclaimer: Some past publications may be outdated. We recommend following our news to stay up to date with the latest information. For any questions, feel free to contact our support team via the chat below.
The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.