Moscow Exchange Launches Bitcoin Spot Trading for Retail Investors

Introduction

The Moscow Exchange, also known as MOEX, is Russia's largest stock exchange and is launching spot trading in a short list of digital assets starting December 1, 2026.

What MOEX is Launching

MOEX will offer spot trading in Bitcoin, Ether, and Tether's USDT stablecoin for everyday investors, with a catch - retail investors will face an annual purchase limit of 300,000 rubles, or approximately $3,600, and they will need to pass a knowledge test before they can buy anything.

Legal Plumbing Behind the Launch

The trading framework rests on Federal Law No. 282-FZ, which took effect on September 1, 2026. MOEX started testing the system with professional market participants on October 1, 2026, giving itself two months of dress rehearsals before opening day.

Infrastructure and Partnerships

MOEX is taking a practical route on infrastructure, running digital asset trading through its existing systems and licenses. The exchange won't need any new licenses beyond its current authorization as a trading organizer. MOEX is also partnering with digital depositories to handle the back-end work of moving assets between buyers and sellers.

Banks Lining Up

Sberbank and VTB, two of Russia's major banks, are preparing digital asset services for their clients ahead of the December launch.

Challenges for Russian Crypto Investors

Market analysts predict that approximately 80% of digital asset trading volume will remain in unregulated channels, highlighting the challenges of repatriating offshore crypto activity. Russians who already trade crypto through unregulated platforms have no purchase limits, no tests, and access to thousands of tokens.

Regulators Gain Visibility

The framework creates visibility into a market that has largely operated out of view. Every trade on MOEX will be tracked, settled through approved depositories, and subject to central bank oversight.