Russia's central bank has approved Bitcoin, Ether and USDT for public exchange trading under an ordinance taking effect on November 17, 2026. WatcherGuru circulated the development on November 11, but the Bank of Russia published its announcement on November 6. The authorization comes with purchase limits for non-qualified investors and mandatory testing for both investor categories.
Reports differed on the effective date. WuBlockchain's November 11 post named November 22, conflicting with WatcherGuru's November 17 report. The central bank's own announcement specifies November 17. That is the ordinance's effective date; individual exchanges have their own launch schedules.
Three assets, with different access rules
The approved list gives non-qualified investors access to Bitcoin, Ether and USDT. Purchases through a single intermediary are capped at 300,000 rubles annually. The central bank names brokers, trust managers and crypto exchange offices as possible intermediaries, covering both exchange and over-the-counter transactions.
Qualified investors have broader access to cryptoassets without the same purchase restrictions. Both groups must pass a relevant test and read about cryptocurrency investment risks before transacting.
The regulator selected the retail assets using market capitalization, average daily trading volume and at least five years of pricing history on foreign exchanges. Its stated purpose is to reduce investment risks for non-qualified investors.
For retail distribution, the main commercial constraint is the annual allowance through each intermediary. A broker can gain permission to process purchases while still operating within a defined customer budget. The cap limits the business any one intermediary can receive from an individual non-qualified investor under this route.
USDT's inclusion also puts a dollar-linked token alongside the two cryptocurrencies on the approved list. Readers familiar with stablecoin spending products should distinguish this investment access from permission to use tokens for domestic purchases.
Exchange permission precedes Moscow Exchange's launch plan
Moscow Exchange has been preparing to make cryptocurrency transactions available from December 1, according to Interfax's November 6 report. The report attributes that timetable to Boris Blokhin, the exchange's senior managing director for sales and business development, speaking in early October.
The exchange was testing operations with professional market participants. Its planned structure includes a partner settlement digital depository, where participants would open accounts. Blokhin also said Moscow Exchange would not need additional permits or licenses to launch trading.
Those preparations show what remains between regulatory approval and customer trading. The ordinance establishes which assets exchanges may admit. To execute transactions, an exchange must also put the supporting account and settlement arrangements into service.
The December timetable gives the November authorization a concrete implementation context. Moscow Exchange's stated plan sits two weeks after the ordinance takes effect. Investors should read those dates as different milestones in the same rollout: the rules become effective, then the exchange plans to open its service.
For an exchange operator, that interval leaves room to prepare the trading service under rules already in force. Customers, meanwhile, need to follow their exchange's operational timetable to know when it expects to accept orders.
Investment access keeps the domestic payments boundary
The November ordinance implements part of a wider regulatory framework. In its July explanation of the legislation, the Bank of Russia described a system involving existing financial institutions alongside crypto exchanges and digital repositories. The law was scheduled to take effect on September 1.
The framework assigns different functions to those participants. Crypto exchanges buy and sell cryptocurrency, while digital repositories record rights to the assets. Brokers and management companies can also handle transactions, including through organized trading.
The same explanation says cryptocurrency payments within Russia remain prohibited. Exporters and importers receive a separate route for cross-border payments. Domestic investment access and international commercial settlement therefore operate under different provisions.
For someone buying USDT through an authorized intermediary, the practical boundary is clear: the exchange authorization permits investment but does not give them permission to pay a Russian merchant with the token.
The central bank also says residents transferring cryptocurrency bought in Russia abroad must use regulated intermediaries, and holdings recorded abroad must be reported to tax authorities. For a customer comparing the new route with an existing wallet arrangement, the transfer process matters alongside the asset list. The rules govern both access to trading and how assets move beyond it.
Overview
Russia's November 17 ordinance permits public exchange trading in Bitcoin, Ether and USDT, with a 300,000-ruble annual purchase limit through each intermediary for non-qualified investors. Mandatory testing applies to qualified investors as well.
The authorization defines eligible retail assets within a regulated intermediary system, while the domestic cryptocurrency payments prohibition remains. Moscow Exchange's reported operational target is December 1.
