Moscow Exchange to launch Bitcoin, Ether and USDT trading in December — SkimNews
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- Moscow Exchange will launch trading in Bitcoin, Ether, and USDT on December 1, creating Russia’s first organized digital currency market under the country’s new crypto law.
- Moscow Exchange will use its existing stock-market systems and National Clearing Center for clearing, with trading hours from 6:50 am to 11:50 pm Moscow time and initial support for same-day and next-day settlement.
- Non-qualified investors must pass a test and face annual purchase limits of 300,000 rubles (~$3,700) per broker, according to the exchange’s rules under the new regulatory framework.
- Russia’s crypto law, whose main provisions took effect September 1, permits regulated trading but maintains a ban on using cryptocurrencies for payments for goods and services within the country.
- Sergey Mendeleev, founder of Russian cross-border payments platform Exved, expressed skepticism that the sanctioned exchange would attract meaningful demand from global or local markets.
- Sergey Mendeleev warned that non-qualified investors could face 'outrageous spreads' and uncompetitive conditions, comparing the offering to Sberbank’s precious metals accounts where no physical asset changes hands.
Why it matters: Russia is formalizing crypto access for retail investors within strict regulatory and sanctions constraints, but the Moscow Exchange’s isolation from global markets and capped purchase limits may limit participation and liquidity, undermining its viability despite state backing.
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