Moscow Exchange sets Dec. 1 to launch Bitcoin and Ethereum trading
Non-qualified buyers face a 300,000-ruble annual cap per intermediary and testing, while Moscow Exchange plans a December pilot. Read the full story on CryptoSlateUnderstand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
The Bank of Russia has finalized the list of assets that investors without qualified status can buy, allowing exchanges to list Bitcoin, Ethereum, and USDT for public trading from Nov. 17.
In its Nov. 6 announcement, the central bank said non-qualified investors can buy through brokers, asset managers, or crypto exchangers, on exchanges, or over the counter. Purchases will be limited to 300,000 rubles annually through each intermediary, and investors must undergo testing before a transaction.
The directive defines the calculation as the ruble sum of acquisition costs for digital currencies already bought and being bought through that broker during the calendar year.
The broker calculation is tied to the calendar year, and both completed purchases and orders under consideration enter the sum. The broker applies the ceiling to those combined acquisition costs during the calendar year, so earlier purchases through that broker remain part of the calculation when another order is assessed.
Before transacting, investors must undergo the test and familiarize themselves with crypto investment risks regardless of whether they hold qualified status.
Related ReadingQualified investors will be able to access any cryptoassets without the non-qualified investor asset-list and purchase-limit restrictions. They must also undergo testing and familiarize themselves with the risks.