The Bank of Russia has issued an ordinance allowing exchanges to begin organised trading in cryptocurrencies from 22 November 2026, provided the central bank approves their trading rules beforehand. Russia's Ministry of Justice has registered the ordinance, which sets out requirements for organised trading in digital currencies and digital rights. The rules apply to trading on organised venues, such as exchanges, rather than to over-the-counter transactions.
Requirements for exchanges
Under the Bank of Russia ordinance, exchanges must register cryptocurrency trading participants such as brokers, trust managers, and central counterparties. They must also keep registers of orders and transactions, monitor trading, and calculate price indicators, including current, weighted average, market, and closing prices.
Exchanges will be required to report on the progress and results of cryptocurrency trading to the Bank of Russia, following the same procedure they already use for other assets. The framework marks a change in approach from January 2022, when the Bank of Russia proposed banning cryptocurrency exchanges.
Russia's new framework for digital currencies
The ordinance builds on Federal Law No. 282-FZ on digital currencies and digital rights, whose main provisions took effect on 1 September 2026. The law recognises cryptocurrency as property and sets out licensed roles for exchanges, brokers, managers, digital depositories, and crypto exchange service providers. In October 2026, the Bank of Russia admitted its initial digital depositories and cryptocurrency exchange service providers to the financial market.
The Bank of Russia has also approved bitcoin, ether, and Tether's USDT for purchase by non-qualified investors, subject to limits, and set separate rules for retail cryptocurrency trading. According to the central bank, direct peer-to-peer cryptocurrency trading will be banned from 1 July 2027. Transfers from regulated digital accounts to self-custody wallets are already prohibited. Moscow Exchange has said it plans to launch cryptocurrency trading on 1 December 2026.
