Bank of Russia opens crypto trading from November 22 pending venue approval
Russia set two regulatory steps for domestic crypto trading: November 22 as the earliest start for exchanges whose trading rules receive the Bank of Russia’s concurrence, and November 17 as the effective date for the asset-eligibility ordinance.
The exchange rulebook comes into focus
Exchanges must register trading participants, keep order and trade records, monitor trading, calculate specified prices, and report activity to the central bank using procedures applied to other assets. The Ministry of Justice registered the ordinance. The notice does not name a launch venue or forecast volumes. An effective date opens a legal path but does not guarantee venue readiness or immediate customer access.
Why November 17 is a different milestone
The central bank’s November 6 asset-eligibility announcement sets rules for Bitcoin, Ether and USDT that take effect on November 17. It covers which assets non-qualified investors may access and the conditions attached to purchases. Non-qualified investors face a 300,000-ruble annual purchase ceiling through a single intermediary. Qualified investors do not face that asset list or purchase limit. All investors must pass the relevant test and acknowledge crypto risks before transacting.
Domestic permission and platform access differ
A national opening does not change private platform policies. KuCoin’s withdrawal from Russia and Belarus follows its own account notices and deadlines. A domestic venue’s permission does not alter another company’s service terms, and an international exit does not indicate when a domestic alternative will be usable.
Practical questions for traders: the intermediary’s identity, supported assets, funding methods, and custody. For exchanges: reliable records and accurate price calculations are prerequisites for a functioning service.
A new route does not measure new demand
Market impact depends on participation after services open. An expanded route into Bitcoin could add buyers or reroute existing activity. Permission alone does not quantify fresh capital. The institutional backdrop includes VTB’s conditional plans for direct crypto trading in December 2025, which indicate interest but not a launch under the latest rules.
The next evidence to watch: venue-specific launch notices, completed onboarding, and observable trading. Until then, November 22 is a conditional regulatory starting point that advances market organisation, with implementation determining actual customer access.
Sources: Bank of Russia November 11 notice; Bank of Russia November 6 notice.
Authors credited by the source: NewsBTC Editorial Team
Published by Holder based on an external source.
