The Moscow Exchange (Moex), Russia's leading stock exchange, is on track to introduce regulated cryptocurrency trading services starting December 1, 2023. This initiative follows successful pilot tests with professional participants, marking a significant step into the crypto market.
Boris Blokhin, the Managing Director of Securities Market at Moex, confirmed that the exchange's existing licenses facilitate this new offering. The pilot program commenced on October 1, 2023, and aims to ensure a smooth transition to full-scale trading.
Under the new regulations, unqualified investors will face strict investment caps, allowing them to trade only Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). In contrast, qualified investors will not be subject to these limitations, enabling them to engage more freely in the market.
Officials believe this move will help repatriate a significant portion of the estimated $44 trillion held in crypto assets by Russians, much of which is currently outside regulated channels. However, projections indicate that up to 80% of trading volume may still occur in unregulated markets.
With the recent legalization of cryptocurrency trading in Russia, the Moscow Exchange aims to provide a secure platform for digital asset transactions, leveraging its established infrastructure. As the market evolves, the exchange anticipates that regulated trading could reach approximately 4 trillion rubles ($46.43 billion) in its first year.
