Russia's largest stock exchange, Moscow Exchange, plans to launch Bitcoin, Ethereum, and USDT trading starting December 1. Trading will run from 06:50 to 23:50 Moscow time, with the National Settlement Depository handling clearing on a same-day or next-day settlement cycle, alongside swap tools for liquidity management. Retail investors must pass a qualification test and are capped at purchasing 300,000 rubles (approximately $3,700) in crypto assets annually through a single broker, while qualified investors face no such limit. Both Moscow Exchange and the National Settlement Depository were sanctioned by the U.S. Treasury Department in June 2024. Notably, USDT is issued by Tether, which freezes wallets linked to U.S. Treasury sanctions lists. Moscow Exchange Deputy Chairman Anatoly Popov previously projected that Russia's first-year crypto trading volume under new regulations could reach 4 trillion rubles, or roughly $49 billion.