MOEX plans to provide opportunity to trade cryptocurrencies from Dec 1, active testing currently underway - senior managing director

MOSCOW. Oct 8 (Interfax) - The Moscow Exchange plans to provide the opportunity to conclude transactions with cryptocurrencies from December 1, and is currently conducting testing of operations with professional participants, the trading venue's senior managing director for sales and business development Boris Blokhin said.

"We are actively testing. We started a week ago," Blokhin told journalists on the sidelines of the Sber Investments forum.

The Moscow Exchange will use a partner settlement digital depository, which market participants will open accounts with.

No additional permits or licenses will be required for the Moscow Exchange to launch trading, Blokhin said.

The law on digital currencies and digital rights came into force in Russia on September 1. It creates comprehensive regulation for the circulation of cryptocurrency in the country. Operations with cryptocurrencies can be carried out through the existing infrastructure - exchanges, brokers and trust managers. New participants will also appear including crypto exchangers and digital depositories. It will be possible to buy or sell cryptocurrency at crypto exchangers, while rights to such assets will be recorded in digital depositories.

Unqualified investors will be able to buy only Bitcoin, Ethereum and Tether USDT within a limit of 300,000 rubles per year through one intermediary. Qualified investors will be able to purchase all cryptocurrencies that will be traded on the exchange and over-the-counter markets, without a limit on the amount.