Russian exchanges may begin crypto trading as early as November 22, but only after agreeing their trading rules with the Bank of Russia, the central bank said, according to a TASS report relayed by PANews on November 11. The central bank’s directive on organized trading in digital currency and digital rights has been registered by the Ministry of Justice.
Per PANews, exchanges must register trading participants such as brokers, trustees and central counterparties, keep order and transaction records, monitor trading, calculate price indicators and report trading data to the central bank, as they do for other assets.
Separate retail rules take effect November 17, Cointelegraph reported on November 6. Under them, Bitcoin, Ether and Tether’s USDT can be offered to retail investors through regulated intermediaries. Cointelegraph said non-qualified investors can buy up to 300,000 rubles (about $3,700) a year per intermediary, while qualified investors face no purchase limits; all must pass a test first. The rules build on a law Vladimir Putin signed on August 4, which took effect September 1, according to Cointelegraph.
Cointelegraph said Moscow Exchange plans to launch crypto trading on December 1, starting with pilot transactions in the three coins, and that Sberbank was authorized in October to offer crypto exchange services. Direct peer-to-peer trading is to be banned from July 1, 2027, and paying for goods and services in crypto remains prohibited. The reports reviewed do not confirm which exchanges will use the November 22 window.
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Sources:
PANews: Bank of Russia: Exchanges May Launch Crypto Trading as Early as November 22
Cointelegraph: Russia finalizes crypto trading rules for November rollout
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