The Moscow Exchange intends to roll out trading for Bitcoin, Ether, and Tether’s USDT starting December 1, establishing what it calls the first organized digital asset marketplace in Russia.
On Monday, the bourse announced that trial trading sessions would commence as members connect to the network. Transactions will leverage its current equity market framework, utilizing the National Clearing Center (NCC) for clearing, with operating hours scheduled from 6:50 am to 11:50 pm Moscow time.
At the outset, the platform will accommodate same-day settlement, next-day settlement, and swap operations. Unaccredited investors are required to complete an evaluation before acquiring digital currencies, and they will face an annual purchasing limit of 300,000 rubles (roughly $3,700) per broker, according to the exchange.
This rollout comes in the wake of Russian cryptocurrency legislation whose core provisions went into force on September 1. The statute allows regulated trading while upholding the prohibition against using cryptocurrencies to pay for products and services domestically.
Both the Moscow Exchange and the NCC have been subject to United States penalties since June 2024, at which time the United Kingdom also penalized the exchange. Subsequently, the European Union included it on its restrictive measures list in July 2026.
Is there demand for a sanctioned exchange?
Exved founder Sergey Mendeleev, who heads the Russian cross-border transaction network, shared with Cointelegraph his skepticism regarding whether the proposed marketplace would generate substantial interest.
“Neither the global nor the local market will notice anything at all,” he remarked, questioning who would choose to execute trades on a penalized platform.
The UK placed sanctions on Mendeleev on May 26.
Additionally, Mendeleev forecasted unappealing trading conditions, drawing a parallel between the planned service and precious metals balances offered by Russian financial institution Sberbank, where clients trade ledger amounts without taking physical delivery of the metal.
Related: Russia to ban direct peer-to-peer crypto trades starting July 2027
He cautioned that participants might encounter “absolutely outrageous spreads,” pointing to the disparity between acquisition and disposal prices. “For ordinary non-qualified investors, this is an entirely unattractive and unprofitable proposition,” he stated.
Nevertheless, Mendeleev recognized potential for the system to facilitate international transactions. He noted that a marketplace enabling importers and exporters to exchange crypto directly with each other would be welcomed, though he questioned whether introducing another intermediary could remain competitive in an environment where traders negotiate over price margins as narrow as 0.05%.
“I hope this will mark a genuine breakthrough for foreign trade,” he concluded.
Helen Partz contributed reporting
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Originally published at https://cointelegraph.com/news/moscow-exchange-bitcoin-ether-usdt-trading-december?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
