Moscow and St. Petersburg Exchanges Prepare for Crypto Trading Amid Regulatory Changes

 Russia’s top exchanges plan crypto trading for retail and qualified investors, pending final legal framework and Bank of Russia approval.

Moscow Exchange (MOEX) and the St. Petersburg Exchange confirmed plans to launch crypto trading once regulations are finalized. The announcement comes after the recent proposal of the Bank of Russia to permit regulated access for retail as well as qualified investors. Both of these exchanges emphasized that current infrastructure lends itself to quick adoption, signaling that legal changes are on the horizon.

Exchanges Ready Infrastructure to Support Crypto Market

MOEX emphasized that prior experience in trading foreign exchange is a good basis for trading in cryptocurrencies. Trading, clearing, and settlement systems are geared up for digital assets. Similarly, the St. Petersburg Exchange said that infrastructure tools have been developed to make it efficient to trade cryptocurrencies. Both exchanges emphasized that they can start operations as soon as the legal framework is put in place.

The Bank of Russia proposed a two-tiered method to investors. Retail participants are allowed to purchase liquid cryptocurrencies after passing knowledge tests. Purchases are only going to be limited to ruble 300,000/year through a single licensed intermediary. Most crypto assets other than privacy coins, such as Monero, are available to qualified investors. They will have to undergo a risk assessment, but will not be subject to transaction limits.

Related Reading: Crypto News: Russia Proposes Limited Crypto Access for Non-Qualified Investors | Live Bitcoin News

This system is to bring millions of crypto users in Russia into a legal framework. Between nine and twelve million active participants, estimates Alexander Kretov of T-Bank, currently work in the “gray zone.” The regulation will allow them to use domestic exchanges in a safe way while providing compliance and transparency.

Market Impact and Regulatory Outlook

The legal framework is projected to be fully prepared by July 1, 2026, with a pilot program beginning as early as March 2025. Cryptocurrency will be considered a financial asset and not as legal tender. Specialized depositories and exchangers will be governed by separate requirements and brokers and trust managers can operate based on existing licenses.

Analysts consider this regulatory change a major shift from the restrictive stance of the Bank of Russia before. It is a balancing of investor protection and market expansion, which will encourage liquidity on domestic platforms. Investors who are and were using foreign exchanges may move to Moscow and St. Petersburg exchanges when legal clarity arrives.

Market observers believe this move will lead to an increase in taxes and make previously unregulated crypto activity more formal. By using existing systems, exchanges have less start-up costs and lower operational risk. The regulatory plan also adds some confidence to institutional investors and enterprises looking at blockchain integration in the territory of Russia.

In conclusion, Moscow and St. Petersburg exchanges are very much ready to incorporate Cryptocurrency trading. Regulatory approval will open up lawful access for millions of retail and qualified investors. Observers hope for growth in liquidity, improved oversight in the market as well as a better domestic crypto ecosystem. This step is a strategic move towards controlled and transparent cryptocurrency adoption in Russia.

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