Russia Green-Lights Crypto Trading From November 22, Starting With Bitcoin ($BTC), Ethereum ($ETH) and Tether ($USDT)

Published November 12, 2026, 11:15 PM PKT. Based on the Bank of Russia ordinance published on the central bank website on November 11, 2026 (primary source) and reporting from Cryptopolitan, Crypto Briefing, BeInCrypto and CoinCentral the same week (secondary sources). Market data from Binance and CoinGecko, November 12, 2026.

Russia's central bank has given licensed exchanges the green light to start trading cryptocurrencies from November 22, 2026, the Bank of Russia announced on Wednesday, November 11, in a sharp reversal from its January 2022 proposal to ban crypto exchanges outright.

"Exchanges are authorized to begin cryptocurrency trading from 22 November 2026, provided that they obtain the regulator's concurrence with their trading rules," the central bank said in a press release published on its website, according to Cryptopolitan. The Russian Ministry of Justice has registered the ordinance setting out the requirements for organized trading in digital currencies and digital rights, the central bank said.

The November 22 start date

The ordinance is the rulebook for the new market. It obligates exchanges to maintain records of orders, transactions and participants, including brokers, trust managers and central counterparties, and to calculate price indicators such as current, weighted average, market and closing prices, the central bank said. Exchanges must also report the progress and results of trading to the Bank of Russia under the same procedure they already use for other assets.

The date is a starting line, not a guaranteed opening day. Each exchange must first agree its operating rules with the regulator, and the central bank published the ordinance on November 11 after the Justice Ministry registered it on November 3, according to the Bitcoin Foundation. November 22 falls on a Sunday, and the biggest players are aiming for early December rather than the first possible day.

Moscow Exchange, Russia's largest trading venue, announced on November 2 that it plans to introduce crypto trading on December 1. Sberbank, the country's largest lender, is targeting the same date, while VTB plans to open crypto services in November and SPB Exchange, the St. Petersburg venue, has said it wants to begin organized trading by the end of the year.

Only three coins for ordinary investors

The menu for the new market is short. On November 6 the central bank approved Bitcoin ($BTC), Ethereum ($ETH) and Tether ($USDT) for trading by non-qualified investors, and that directive comes into force on November 17, five days before the exchange framework kicks in. Local media reported that domestic exchanges will be able to start listing the three coins from that date.

Ordinary Russian citizens will be able to buy and sell only the most liquid coins, and their purchases are capped at 300,000 rubles a year per intermediary, less than $3,700 at current rates. Both ordinary and professional investors must pass tests to determine their knowledge and awareness of crypto risks, and testing for retail investors is set to begin in November, Ekaterina Lozgacheva, director of the central bank's Financial Market Strategic Development Department, said on Monday, according to RBC and Vedomosti.

Professional investors get almost unrestricted access to crypto assets under the framework. Using crypto to pay for goods and services inside Russia remains banned, and to be legal, all transactions in the regulated market must be processed by central bank authorized trading and custodial platforms. Self-hosted wallets and peer-to-peer trades remain outside the law.

The law behind the opening

The framework builds on Federal Law No. 282-FZ, "On Digital Currencies and Digital Rights," which was signed by President Vladimir Putin in August and entered into force on September 1, 2026. It is Russia's first attempt to comprehensively regulate its crypto space, recognizing cryptocurrency as property and establishing licensed roles for exchanges, brokers, managers, depositories and exchange providers.

The central bank approved its first operators in October, initially admitting four cryptocurrency exchange providers and five digital depositories, including Sberbank and VTB. More than 20 organizations have now been licensed as cryptocurrency exchanges and digital depositories, according to Cryptopolitan, and the number of registered crypto exchange service providers jumped from four to 17 between October 6 and late October, according to Crypto Briefing.

The framework aims to build a "sovereign" market infrastructure dominated by established, state-controlled players from Russia's financial industry, which are better positioned to meet the central bank's strict requirements than small local exchange offices, online platforms or foreign exchanges that have been exiting the market, Cryptopolitan reported.

Sanctions shadow over the launch

The launch carries a sanctions complication. The US Treasury sanctioned Moscow Exchange and its clearing house, the National Clearing Centre, in June 2024, and Sberbank has faced full US sanctions since April 2022. Trades on the Moscow Exchange will clear through the same clearing house the United States has blacklisted, BeInCrypto reported.

The sanctions were imposed over the institutions' roles in circumventing fiat and crypto restrictions put in place after Moscow's invasion of Ukraine, according to Cryptopolitan. That leaves the flagship venue of Russia's regulated crypto market operating under Western restrictions from its first day of trading.

The market context

The announcement landed on a weak day for crypto markets. Bitcoin ($BTC) traded near $72,522 on November 12, down about 1.7 percent over 24 hours, while Ethereum ($ETH) hovered above $2,000, according to CoinGecko data cited in market briefings. US spot Bitcoin ($BTC) exchange-traded funds recorded about $299.8 million in outflows on November 11, a fifth straight day of withdrawals, and spot Ethereum ($ETH) funds lost $144.8 million the same day, according to Farside Investors and SoSoValue. The Crypto Fear and Greed Index stood at 28, in Fear territory.

What to watch next

The next dates to watch are November 17, when the three-coin directive for non-qualified investors takes effect, and November 22, when exchanges may begin trading once their rules are agreed with the central bank. The real test comes December 1, when Moscow Exchange and Sberbank plan to open, and traders will watch whether any venue actually launches on the first possible day or whether rule negotiations push openings into December.

Investors will also watch the retail knowledge tests that begin this month, the first published trading volumes from licensed venues, and whether the central bank widens the approved coin list beyond Bitcoin ($BTC), Ethereum ($ETH) and Tether ($USDT).

Sources

• Bank of Russia, Ordinance amending the Bank of Russia Regulation on organized trading to cover digital currencies and digital rights, November 11, 2026 (primary source: ordinance registered by the Ministry of Justice, requirements for organized trading in digital currencies and digital rights, price indicators and reporting duties for exchanges, signed by Bank of Russia chair Elvira Nabiullina)
• Cryptopolitan, Russia allows exchanges to launch crypto trading in November, November 12, 2026 (secondary source: central bank announcement of the November 22 start date, quote from the press release, 300,000-ruble annual cap, knowledge tests, more than 20 licensed organizations, Sberbank and Moscow Exchange December 1 plans)
• Crypto Briefing, Russian exchanges could launch crypto trading as soon as Nov. 22, November 11, 2026 (secondary source: trading rules must be agreed with the central bank first, November 17 effective date for non-qualified investor rules, crypto payments still banned, registered providers rising from four to 17)
• BeInCrypto via TradingView, Russia Opens Bitcoin Trading, but Its Biggest Exchange Is Under US Sanctions, November 11, 2026 (secondary source: January 2022 ban proposal, only Bitcoin ($BTC), Ethereum ($ETH) and USDT approved, US Treasury sanctions on Moscow Exchange and its clearing house, VTB November launch plans)
• CoinCentral, Russia Sets Nov. 22 Start Date for Regulated Crypto Exchange Trading, November 12, 2026 (secondary source: Interfax reporting of the November 11 announcement, retail cap of 300,000 rubles per intermediary, qualified investors face no annual cap)
• Bitcoin Foundation, Russia Bitcoin Trading: November 22 Launch Date, November 12, 2026 (secondary source: ordinance registered November 3 and published November 11, Federal Law No. 282-FZ in force September 1, first operators approved in October)

This article is news reporting and is not investment advice.