Russian Firms Gear Up to Launch Crypto Services Under Sweeping New Regulations

Moscow's financial landscape is bracing for a seismic shift. After years of regulatory limbo, Russian companies are now actively preparing to roll out cryptocurrency services to the public, leveraging a freshly minted legal framework.

The Regulatory Green Light

The long-awaited rules provide a crucial on-ramp for domestic businesses. They're not just dipping a toe in—they're building full-service platforms for trading and custody, aiming to capture a market hungry for digital asset access. This move effectively brings crypto in from the cold, placing it under a defined supervisory structure.

Building the Infrastructure

Behind the scenes, compliance teams are working overtime. The focus is on KYC protocols, transaction monitoring systems, and secure wallet solutions that meet the new standards. It's a race to establish trust and first-mover advantage in a sector that was, until recently, a gray zone.

A Calculated Gambit for Finance

This isn't just about innovation; it's a strategic play. By creating a controlled domestic ecosystem, Russia aims to keep capital and crypto expertise within its borders—a classic case of 'if you can't beat 'em, regulate 'em.' It offers a sanctioned alternative to traditional finance, which, let's be honest, could use a little disruptive competition to shake off the cobwebs.

The final piece? Watch how quickly these services scale. If they gain traction, it could signal a broader institutional acceptance, turning regulatory compliance into a competitive edge rather than a constraint.

MOEX prepares to launch Bitcoin and Ethereum trading

Moscow Exchange (MOEX) intends to start trading cryptocurrencies right after the rules for this activity are put in place this summer.

Russian authorities are working on a comprehensive framework recognizing the digital coins as monetary assets, which should be adopted by July 1.

The Russian edition of Forbes revealed the platform’s plans on Friday, quoting sources from the brokerage sector. MOEX confirmed, without providing more details on the timeframe.

The exchange is likely to implement a centralized model and act as an intermediary providing services to registered users, including storage.

Cryptocurrencies approved by Russian regulators will be traded, initially Bitcoin (BTC) and ethereum (ETH). These will be available to non-professional investors, too.

A broader range of assets and instruments will be offered to qualified investors, including solana and some stablecoins, as well as derivatives based on foreign exchange-traded funds (ETFs).

After the Bank of Russia authorized the offering of such products in May 2025, MOEX launched four futures contracts for the shares of ETFs tracking BTC and ETH and its own Bitcoin and Ethereum indices.

Earlier in February, its operator announced it would launch three more crypto indices this year, which would track the performance of Solana (SOL), Ripple’s XRP, and Tron (TRX).

Crypto transactions to be processed through a ‘banking filter’

Upcoming regulations are based on a new regulatory concept unveiled by the Central Bank of Russia in late December, which envisages widening investor access to decentralized digital assets, currently available only to “highly qualified” investors.

However, Russian media, quoting the draft legislation released this week, revealed that the authorities are preparing to introduce a number of restrictions. For example, coin purchases for ordinary Russians will be capped at less than $4,000 a year, and all investors are expected to pass tests before buying.

The texts indicate regulators want to track every crypto-related movement of funds. And on Friday, the business news portal RBC reported that the monetary authority and finance ministry are suggesting a “banking filter” for cryptocurrency transactions of citizens.

While they are yet to elaborate more on the proposal, it’s already clear that Russian residents will be very limited in their options to use cryptocurrencies, including for domestic and international transfers, and especially payments inside Russia, which will remain prohibited.

The regime will be more relaxed for non-residents and qualified investors, as well as entities involved in foreign trade. This will facilitate cross-border settlements with crypto, allowing Russian firms to bypass financial restrictions imposed over the war in Ukraine.

Non-qualified investors will have to transfer their funds to domestic platforms and conduct most of their cryptocurrency operations through authorized intermediaries.

While established participants in the traditional financial market, including exchanges like MOEX, brokers, and management firms, will be able to process coin transactions under their existing licenses, dedicated crypto platforms will face a separate set of strict requirements.

Their operators will be prohibited from providing services that allow residents to circumvent any of the applicable restrictions, the business daily Kommersant noted in an article. They will also be banned from facilitating the purchase of “anonymous” coins by citizens.

The Bank of Russia will publish a list of “prohibited” cryptocurrencies and blacklist crypto businesses breaking the law, blocking any client transactions to their platforms in the future.

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