Russia's largest securities exchange, the Moscow Exchange, is conducting a pilot program for cryptocurrency trading with professional participants and plans to launch regulated cryptocurrency trading services on December 1. Boris Blokhin, Managing Director of the Exchange's Securities Market, stated that the relevant testing began a week ago. He noted that the Moscow Exchange's existing licenses already cover cryptocurrency trading services, eliminating the need for additional permits or licenses. Russian regulations regarding the cryptocurrency market came into effect on September 1, allowing citizens to trade cryptocurrencies on domestic exchanges licensed by the Central Bank of Russia. Investors who do not qualify as accredited investors will face investment limits, with trading restricted to Bitcoin, Ethereum, and USDT. Sberbank anticipates that the scale of cryptocurrency trading in Russia will reach at least 40 trillion rubles in its first year, with only 20% conducted through exchanges and approximately 80% remaining in unregulated channels.
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