Russia permits exchange crypto trading from November 22

Russia’s Bank of Russia has authorized domestic exchanges to begin organized cryptocurrency trading from November 22, provided the regulator approves each venue’s operating rules. The directive, registered by the Ministry of Justice, sets requirements for trading and reporting but does not confirm that any particular exchange will be ready to launch that day.

Exchanges must establish procedures to register market participants, keep records of orders and completed transactions, calculate pricing indicators and report trading activity to the central bank. The rules place organized crypto trading within existing financial-market oversight arrangements. The directive also requires platforms to provide information on ongoing activity and completed transactions through reporting procedures used for other financial instruments.

A separate Bank of Russia decision takes effect November 17, allowing Bitcoin, Ether and USDT to be offered to nonqualified investors. Those investors may purchase up to 300,000 rubles in cryptocurrency annually through each intermediary. Qualified investors may access additional cryptocurrencies without that retail ceiling. Both categories must pass a knowledge...