Moscow Exchange and Sberbank to launch crypto trading in December

Russia is preparing to launch regulated cryptocurrency trading services on December 1, 2024, following the implementation of a new legal framework for digital assets that took effect on September 1. The Moscow Exchange (MOEX) has begun testing transactions with professional market participants and plans to offer spot trading for Bitcoin, Ethereum, and USDT to retail investors.

Under the new regulations, retail investors face significant restrictions. Non-qualified investors are subject to an annual purchase limit of 300,000 rubles (approximately $3,200 to $3,500) per intermediary and must pass a risk assessment. In contrast, qualified investors can trade without these specific limits.

Major financial institutions, including Sberbank and VTB, have been authorized by the Bank of Russia to act as digital custodians and trading service providers. Sberbank specifically plans to integrate cryptocurrency transactions directly into its existing mobile banking application. The exchange will utilize partner-settlement digital depositories to manage accounts and record ownership, rather than providing direct on-chain wallet control for all users.