Russia Central Bank Clears Path for Organized Crypto Trading Starting November 22

The Bank of Russia has officially announced that exchanges may commence organized trading in cryptocurrencies starting November 22. This regulatory update, which amends existing rules for organized markets, was registered by the Justice Ministry on November 3 and published by the regulator on Wednesday. The policy takes effect 10 days after its publication, marking a significant step for the Russia Central Bank as it formalizes the digital asset landscape.

Under the new framework, exchanges are required to register all participants, including brokers, trust managers, and central counterparties. Furthermore, these venues must maintain comprehensive registers of orders and deals while monitoring activity. They are also tasked with calculating various pricing metrics—such as market, closing, and weighted-average prices—and reporting this data to the regulator in a manner consistent with established practices for traditional financial assets. The central bank emphasized that while trading may open on the designated date, venues must first secure approval for their specific trading rules from the regulator.

The Bank of Russia will permit organized cryptocurrency trading to begin on November 22 following rule approval.

Regulatory Framework and Investor Access

A separate ordinance, effective November 17, establishes the parameters for retail participation. Non-qualified investors are permitted to purchase Bitcoin, Ether, and Tether’s USDT through brokers, trust managers, or registered exchange offices. These retail buyers face an annual purchase limit of 300,000 rubles. Conversely, qualified investors face no such caps, though both groups must undergo knowledge testing and review risk disclosures before trading. The assets available for public trading are restricted to those meeting strict criteria regarding market capitalization, daily volume, and historical pricing data.

Major trading venues are preparing for this shift. Moscow Exchange has announced plans to offer Bitcoin, Ether, and USDT trades starting December 1, utilizing its existing stock-market infrastructure. Meanwhile, the SPB Exchange in St. Petersburg has indicated intentions to launch similar services by the end of the year. These developments operate under Federal Law No. 282-FZ, which recognizes crypto as property and establishes a supervised framework for cross-border trade, while maintaining the prohibition on using digital currencies for payments within the country.

Why it matters

This regulatory milestone provides a legal structure for institutional and retail crypto participation in Russia, transitioning the market from offshore reliance to a supervised domestic environment. It directly impacts investors and financial institutions seeking to integrate digital assets into their portfolios within a controlled, compliant framework.