Russia to Allow Bitcoin Trading From Nov 22 as Sanctions Hit Top Exchange

Four years after Russia's central bank sought to ban crypto exchanges, it will let them trade Bitcoin starting Nov. 22. The Moscow Exchange, Russia's largest platform, is on a US sanctions list.

This is significant for Russian savers. One of the three available coins, Tether (USDT), is pegged to the US dollar, and its issuer complies with US sanctions when freezing wallets.

What Russians Can Buy, and How Much

In January 2022, the Bank of Russia suggested a complete ban on crypto exchanges.

Under Russia's new crypto law, it now sets their regulations. Exchanges must obtain prior approval and report all trades, according to TASS.

Russian Central Bank: Exchanges May Conduct Crypto Trading from November 22, Subject to Prior Approval of Trading Rules

According to TASS, the Bank of Russia said Russian exchanges may begin offering cryptocurrency trading from November 22, 2026, provided they first agree on… pic.twitter.com/txoYyq5vfL

— Wu Blockchain (@WuBlockchain) November 11, 2026

The selection is limited. Only Bitcoin (BTC), Ethereum (ETH), and USDT made the list. A coin requires an average market value of around $60 billion over two years.

Regular buyers can spend up to 300,000 rubles (about $3,630) annually, and must pass a test first.

VTB plans to launch this month. Sberbank and the Moscow Exchange are targeting Dec. 1, as Interfax reported.

Why Washington Still Holds a Key

The US Treasury imposed sanctions on the Moscow Exchange and its clearing house in June 2024. Sberbank has been under full US sanctions since April 2022.

Tether has previously frozen Russian-linked funds. In March 2025, it locked $23 million connected to Garantex, a sanctioned Russian exchange, while cooperating with the US Secret Service.

Tether's CEO highlighted that capability in the company's statement about the freeze.

“Tether’s ability to track transactions and freeze USDt linked to illicit activity sets it apart…” said Ardoino.

The warning now comes from within Russia as well. Petr Fradkov, chairman of lender PSB, cautioned in August that Tether can block tokens at any address.

Nevertheless, the same report found no public evidence of widespread freezes of small Russian wallets.

Traders worry that the sanctions status could push Moscow prices below global levels.

Options abroad keep narrowing. KuCoin became the third major exchange to limit access for users in Russia and Belarus within two weeks.

The Moscow Exchange's crypto trades will settle through the same clearing house that the US has blacklisted.