Russia's central bank has adopted a series of regulations that will permit licensed exchanges to begin trading cryptocurrencies as early as this month. While the authority says platforms can start operations at the end of next week, major market participants are aiming for a December launch.

Bank of Russia Sets November 22 Start Date for Exchange Crypto Trading

The Central Bank of Russia (CBR) announced on Wednesday that state-approved exchanges will be able to start trading digital assets on November 22 — the final day of next week — provided they obtain the regulator's approval of their trading rules.

In a press release published on its website, the regulator stated: "Exchanges are authorized to begin cryptocurrency trading from 22 November 2026, provided that they obtain the regulator's concurrence with their trading rules."

The monetary authority also confirmed that the Russian Ministry of Justice has registered its ordinance, which sets out the specific "requirements for organized trading in digital currencies and digital rights."

Under the document, exchanges are obligated to maintain records of orders, transactions, and participants in the newly legalized business activity, including brokers, trust managers, and central counterparties. They must also calculate price indicators such as current, weighted average, market, and closing prices, the CBR detailed.

In a statement also posted on Telegram, the central bank emphasized: "Exchanges must provide the Bank of Russia with information on the progress and results of trading following the same procedure as they currently do for other assets."

Bitcoin, Ethereum, and Tether Cleared for Domestic Listing

The announcement follows the bank's formal approval earlier this month of the three largest cryptocurrencies by market capitalization for trading in Russia, including by "non-qualified" investors, as reported by Cryptopolitan. That directive comes into force on November 17, and local media have noted that domestic crypto exchanges will be able to begin listing Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) on that date.

The exact start of official trading remains unclear: the latest date announced, November 22, falls on a Sunday, while major players say they will be ready to begin operations in early December. The distinction matters because a listing approval does not by itself establish that an exchange can open trading; each platform must still secure the CBR's concurrence with its trading rules and use authorized trading and custodial infrastructure.

Who Can Trade Cryptocurrencies in Russia, and How

Russia legalized cryptocurrencies and related operations through a dedicated law "On Digital Currencies and Digital Rights," adopted this past summer. The legislation, signed by President Putin in August and in force since September 1, marks the country's first attempt to comprehensively regulate its crypto space.

The framework aims to build a "sovereign" market infrastructure that is likely to be heavily dominated by well-established, state-controlled players from Russia's financial industry. These institutions are better positioned to meet the Bank of Russia's strict requirements than small local exchange offices, online platforms, or the foreign exchanges that have been exiting the market.

The "digital currency" law grants professional investors almost unrestricted access to crypto assets. Ordinary Russian citizens, however, will be able to buy and sell only the most liquid coins, with purchases limited to 300,000 rubles per year per intermediary (less than $3,700). Both categories of investors must pass tests to determine their knowledge and awareness.

Testing for retail investors is also set to begin in November, according to Ekaterina Lozgacheva, director of the central bank's Financial Market Strategic Development Department. Quoted by the business news outlets RBC and Vedomosti on Monday, the executive remarked that the process should take into account the specific nature of cryptocurrencies and the associated risks.

To be legal, all transactions in Russia's regulated crypto market must be processed by CBR-authorized trading and custodial platforms. Self-hosted wallets and peer-to-peer trades will remain outside the law.

More Than 20 Entities Licensed So Far

More than 20 organizations have so far been licensed as cryptocurrency exchanges and digital depositories, including Russia's largest majority state-owned banks and major stock exchanges. Some of these entities have been subjected to Western sanctions over their roles in circumventing the fiat and crypto restrictions imposed in response to Moscow's invasion of Ukraine.

Russia's largest lender, Sberbank, and the country's main stock market, the Moscow Exchange, have already unveiled plans to launch cryptocurrency trading on December 1.