莫斯科交易所 12 月 1 日向零售投资者开放比特币现货交易

Russia’s largest stock exchange is about to let ordinary people buy actual Bitcoin. The Moscow Exchange, better known as MOEX, is set to launch spot trading in a short list of digital assets starting December 1, 2026.

There is a catch, naturally. Retail investors will face an annual purchase limit of 300,000 rubles, or approximately $3,600, and they will need to pass a knowledge test before they can buy anything.

What MOEX is actually launching

The rollout covers three assets for everyday investors: Bitcoin, Ether, and Tether’s USDT stablecoin. That’s the whole menu for anyone who doesn’t hold qualified investor status.

The bigger shift is the product itself. Until now, MOEX offered crypto exposure through derivatives, contracts that track a price without handing over the underlying asset. Spot trading means investors will own the coins rather than a bet on where they’re headed.

Qualified investors play by looser rules. They face no purchase limits and get access to a wider range of digital assets beyond the three-coin starter pack.

The legal plumbing behind the launch

The trading framework rests on Federal Law No. 282-FZ, which took effect on September 1, 2026. The exchange started testing the system with professional market participants on October 1, 2026, giving itself two months of dress rehearsals before opening day.

MOEX is also taking a practical route on infrastructure. Rather than spinning up a standalone crypto venue, it will run digital asset trading through its existing systems and licenses. The exchange won’t need any new licenses beyond its current authorization as a trading organizer.

Settlement is getting outside help. MOEX is partnering with digital depositories to handle the back-end work of moving assets between buyers and sellers.

Banks are lining up too

MOEX isn’t making this move alone. Sberbank and VTB, two of Russia’s major banks, are preparing digital asset services for their clients ahead of the December launch.

What this means for Russian crypto investors

The three-asset limit is telling. Bitcoin and Ether are the two largest and most established crypto assets, while USDT gives investors a dollar-linked stablecoin option. Anyone hoping to trade obscure altcoins through the national exchange will need qualified investor status first.

Market analysts predict that approximately 80% of digital asset trading volume will remain in unregulated channels, highlighting the challenges of repatriating offshore crypto activity. Russians who already trade crypto through unregulated platforms have no purchase limits, no tests, and access to thousands of tokens.

For regulators, the framework creates visibility into a market that has largely operated out of view. Every trade on MOEX will be tracked, settled through approved depositories, and subject to central bank oversight.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.