Russia's Largest Exchange Plans Bitcoin Trading This December

Moscow Exchange testing crypto trading, targeting a December launch

Russia's largest stock exchange has begun testing cryptocurrency trading and plans to open it to clients in December, according to remarks from a senior executive. Boris Blokhin, the Moscow Exchange's senior managing director for sales and business development, told journalists at the Sber Investments forum that the exchange started testing operations with professional market participants about a week before the comments, as reported by Interfax on Thursday, October 12.

The Moscow Exchange serves 40.1 million clients and would work with a partner settlement digital depository — a service that records who owns which digital assets — where market participants would open accounts. Blokhin said no additional permits or licenses are needed to launch trading.

Key numbers and details

• Moscow Exchange has 40.1 million clients.
• Cryptocurrency trading is planned to begin in December 2026.
• Testing with professional participants started approximately one week before October 12.
• Unqualified investors in Russia can buy bitcoin and stablecoins (tokens pegged to a fixed value like the US dollar) up to 300,000 rubles, about $3,556, per year through a single intermediary.
• Qualified investors face no purchase limit.

The new Russian crypto framework

The exchange's move follows Russia's law on digital currencies and digital rights, which took effect in September 2026. President Vladimir Putin signed the law in October. Under the framework, trades can move through existing infrastructure such as exchanges, brokers, and trust managers. New types of participants will also operate, including crypto exchangers that handle buying and selling, and digital depositories that record ownership of assets.

Using crypto as a form of payment has been illegal in Russia since 2022. That ban remains in place under the new law.

Sberbank's role in the ecosystem

Russia's largest bank, Sberbank, announced in September 2026 that it became the first institution in the country approved to custody bitcoin. The Bank of Russia gave it authorization for "digital currency record-keeping" and to facilitate the transfer of such assets, covering bitcoin and other smaller cryptocurrencies.

Russia's complex stance on Bitcoin

Russia's relationship with Bitcoin has been inconsistent. In 2024, President Putin appeared to embrace the asset, telling a forum audience: "For example, Bitcoin, who can ban it? Nobody." At the same time, the government maintains strict controls on how citizens can use the technology. The 2022 payment ban and the 2026 purchase limits for unqualified investors reflect that tension.

What is confirmed and what remains unclear

Confirmed: Moscow Exchange has started internal testing with professional participants. A December launch target has been stated by an exchange executive. The Russian digital currency law is in effect. Sberbank has been approved for bitcoin custody.

Not yet confirmed: the exact December launch date, which cryptocurrencies will be available on day one, and what trading terms — such as fees and settlement times — will apply. The sources do not provide those details.

Sources

• Bitcoin Magazine
• Interfax