Russia's two major stock exchanges, the Moscow Exchange (MOEX) and the St. Petersburg Exchange (SPB), support the Russian Central Bank's (CBR) comprehensive cryptocurrency regulation plan and will launch cryptocurrency trading once the regulations come into effect.
This plan recognizes Bitcoin and stablecoins as monetary assets, tightens requirements for custody/trading platforms, and stratifies investors with annual purchase limits, as Russia prepares to expand cryptocurrency investment channels through licensed infrastructure.
- MOEX and SPB will open cryptocurrency trading once the regulatory framework takes effect.
- Bitcoin, a stablecoin, is proposed to be recognized as a monetary asset; it can be traded through licensed exchanges/brokers.
- The proposal suggests a limit of 300,000 rubles per year for ineligible investors; effective no later than July 1, 2026.
CBR's cryptocurrency legal framework: asset recognition and stricter regulations.
The CBR's plan proposes treating Bitcoin and stablecoins as monetary assets, with transactions processed through licensed exchanges and brokers.
Within this framework, cryptocurrency custody and trading platforms will have to meet stricter requirements. The approach prioritizes traditional infrastructure (licensed exchanges/brokers) to bring cryptocurrency operations under formal regulation.
In terms of timing, the regulatory framework is expected to take effect no later than July 1, 2026. Prior to that, the current pilot program will launch in March 2025.
Investor stratification and its impact on the Russian market.
The CBR proposes an annual limit of 300,000 rubles on cryptocurrency purchases for non-eligible investors; eligible investors would have no limit, except for privacy coins.
MOEX and SPB have stated they will launch cryptocurrency trading after regulations take effect, and both exchanges already offer cryptocurrency Derivative . This development strengthens the likelihood that cryptocurrency products will expand into the Russian market as the regulatory roadmap unfolds.
Earlier this week, there were also reports that the Russian Central Bank was planning to open a cryptocurrency investment channel and propose new rules to differentiate investor levels.
