The central bank set the rules for crypto trading on exchanges: the launch is closer, but there are conditions.
The Bank of Russia has established the procedure for the organization of trading in digital currencies and digital rights. Directive No. 7,438-U takes effect on November 22. From now on, exchanges will be able to carry out such actions, but only after initial approval of their rules with the regulator.
The document sets requirements for tender organizers and participants. The exchanges must register participants, manage inquiry and transaction registers, monitor transactions and calculate price indices - current, weighted averages and market prices as well as the closing price. The transaction data and trading results of the platform will be transferred to the central bank.
Which cryptocurrencies will be available to investors.
The regulator set the conditions for accepting private investors in a separate instruction No. 7,441-U, published on November 6. Starting November 17th, non-accredited investors will be able to buy Bitcoin, Ether and USDT. The annual limit is 300,000 rubles through one broker.
Accredited investors have access to all crypto assets without this restriction. Before transactions, both categories of investors must undergo tests to understand the risks.
The Moscow Stock Exchange plans to begin organized trading of digital currencies on December 1. In the first phase, the site expects to accept Bitcoin, Ether and USDT. The St. Petersburg Stock Exchange also announced its intention to launch trading by the end of 2026.
Thus, the regulatory framework of the crypto exchange market has already been created. However, the actual launch depends on the readiness of the sites and the coordination of their rules with the Bank of Russia.