Moscow Exchange Plans Dec. 1 Launch for Bitcoin, Ether, and USDT Trading

Moscow Exchange plans to initiate trading for $BTC, $ETH, and Tether’s $USDT on Dec. 1, introducing what it terms the first organized digital currency marketplace in Russia ¹. Pilot transactions will roll out as participants onboard, utilizing the bourse's existing equity market setup ¹. All trades will clear through the National Clearing Center (NCC) across operating hours running from 6:50 a.m. to 11:50 p.m. Moscow time, supporting same-day, next-day, and swap settlement mechanisms ¹.

Participation faces regulatory guardrails under Russian legislation that took effect on Sept. 1 ¹. While the framework enables regulated market trading, domestic crypto settlements for commercial goods and services remain prohibited ¹. Individual non-qualified retail investors must complete a qualification test before executing trades and face an annual purchase ceiling of 300,000 rubles (roughly $3,700) per brokerage firm ¹. This institutional shift builds on broader national efforts, including the Bank of Russia Registers 17 Crypto Exchanges as Sberbank and VTB Prepare Retail Launch initiative.

Sanctions and Market Skepticism

The initiative comes amid deep international isolation for the operator ¹. Moscow Exchange and the NCC were placed under US and UK sanctions in June 2024, followed by European Union sanctions enacted in July 2026 ¹. Industry figures have expressed skepticism regarding demand on a restricted venue ¹. Sergey Mendeleev, founder of cross-border payment provider Exved who was himself sanctioned by the UK on May 26, argued that neither domestic nor global participants are likely to drive volume ¹.

Mendeleev compared the structure to precious metals exposure at Sberbank, where clients trade balances without handling the underlying assets ¹. He warned that wide bid-ask spreads could diminish retail utility, though he suggested regulated infrastructure could eventually assist importers and exporters managing international commerce ¹. At the time of writing, Bitcoin traded near $77,197, while Ether stood around $2,275.