Russia’s November 17 Crypto Rules Precede December Pilot

• Russia will allow exchanges to publicly trade Bitcoin, Ether, and USDT from November 17.
• Moscow Exchange plans to begin pilot cryptocurrency trading on December 1, 2026.
• Non-qualified investors face a 300,000-ruble annual purchase limit through each intermediary.
• Qualified investors can access additional cryptocurrencies without the retail purchase ceiling.
• All investors must complete testing and review cryptocurrency investment risks before trading.

Russian exchanges may publicly trade Bitcoin, Ether, and USDT from November 17 under central bank rules. That date permits listings but does not guarantee an immediate launch across trading venues.

JUST IN: 🇷🇺 Russia's Central Bank says exchanges can begin cryptocurrency trading from November 17th.

— Watcher.Guru (@WatcherGuru) November 11, 2026

On November 6, the Bank of Russia confirmed the effective date. The Justice Ministry registered Directive No. 7441-U on October 30. Moscow Exchange separately announced plans to start pilot cryptocurrency transactions on December 1.

Moscow Exchange Targets December Pilot

On November 2, Moscow Exchange outlined its own rollout schedule. Its initial market will support Bitcoin, Ether and USDT, with participants joining gradually.

The exchange plans to use its existing stock-market technology and National Clearing Centre clearing arrangements. Trading hours are scheduled from 6:50 a.m. to 11:50 p.m. Moscow time.

The exchange also outlined same-day and next-day settlement, plus swaps for liquidity management. Those features are planned for December 1, rather than the regulation’s November start date.

The distinction matters for brokers and clients assessing when transactions may actually become available. Regulatory permission alone does not establish whether individual intermediaries are prepared to serve investors.

Retail Investors Face Asset and Purchase Limits

Russia’s approved retail list includes Bitcoin, Ether, and Tether’s USDT. Each non-qualified investor may buy up to 300,000 rubles annually through one intermediary.

Investors may use brokers, trust managers, or cryptocurrency exchange businesses. The framework covers both organized exchange transactions and over-the-counter deals.

Qualified investors can access other cryptocurrencies without the retail purchase ceiling. However, all investors must pass a test and review investment risks before trading.

Regulators considered market capitalization, average daily trading volume, and foreign crypto-exchange pricing histories when selecting assets. That historical record must cover at least five years.

The central bank separately identifies USDT as a foreign digital instrument under its framework. A June Blockonomi report described the proposed three-asset restriction before regulators finalized the rules.

Registrations Prepare Russia’s Crypto Infrastructure

Russia’s digital-currency law took effect on September 1. The central bank announced its first registered crypto intermediaries and depositories on October 6.

It initially admitted four cryptocurrency exchange businesses and five digital depositories. Exchange businesses can trade on their own accounts outside organized venues. Depositories provide services for recording and transferring digital assets.

These registrations created a regulated foundation without setting a common customer launch date. Russia still prohibits cryptocurrency payments for domestic purchases, according to the central bank. Its guidance says direct peer-to-peer deals end on July 1, 2027.