Moscow Exchange to launch Bitcoin and Ether trading in December

Moscow Exchange announced plans to launch trading in Bitcoin, Ether, and Tether's USDT on December 1, 2026, cleared through the National Clearing Center. Following Russia's September 2026 crypto law, retail investors face mandatory testing and an annual limit of 300,000 rubles ($3,700). However, Western sanctions on the exchange and clearing house raise questions about Tether's wallet-freezing policies, while industry experts predict low demand and wide spreads.

Moscow Exchange crypto trading launch details

• ▪Trades on Moscow Exchange will run from 6:50 am to 11:50 pm Moscow time and be cleared through the National Clearing Center, supporting same-day, next-day settlement, and swap transactions
• ▪Moscow Exchange announced on November 2, 2026, that it plans to launch trading in Bitcoin, Ether, and Tether's USDT on December 1, 2026
• ▪Under Moscow Exchange rules, non-qualified retail investors must pass a test and face an annual crypto purchase cap of 300,000 rubles, approximately $3,700, per broker, while qualified investors face no annual purchase limits

Critique of exchange trading viability

• ▪Exved founder Sergey Mendeleev noted that Moscow Exchange could potentially support cross-border payments for importers and exporters, though he questioned whether adding Moscow Exchange as another intermediary would be competitive
• ▪Exved founder Sergey Mendeleev warned that non-qualified retail investors on Moscow Exchange could face uncompetitive trading conditions and wide spreads, comparing Moscow Exchange's crypto trading product to Sberbank precious metals accounts

Impact of sanctions on exchange trading

• ▪Moscow Exchange and the National Clearing Center have been under United States sanctions since June 2024, with the United Kingdom sanctioning the exchange in June 2024 and the European Union adding it in July 2026
• ▪Exved founder Sergey Mendeleev questioned whether Moscow Exchange's crypto launch would attract significant local or global market demand due to existing international sanctions on Moscow Exchange
• ▪Tether maintains a policy of freezing crypto wallets listed on the U.S. Treasury's sanctions list, raising questions about USDT held through Moscow Exchange's National Clearing Center

Russian crypto market volume estimates

• ▪Sberbank Deputy Chairman Anatoly Popov stated in late August 2026 that cryptocurrency trading under Russia's rules could reach up to 4 trillion rubles, or about $49 billion, in its first year
• ▪Russian Deputy Finance Minister Ivan Chebeskov stated in February 2026 that Russia's daily cryptocurrency turnover reached 50 billion rubles

Russian cryptocurrency legal framework

• ▪Russia plans to ban direct peer-to-peer cryptocurrency trades starting in July 2027
• ▪A Russian cryptocurrency law took effect, permitting regulated cryptocurrency trading