The Moscow Exchange will expand its crypto derivatives offering with perpetual futures on Bitcoin and Ethereum starting in September, just before the new Russian digital currency law takes effect and opens the market to retail investors. The measure, announced by MOEX’s head of derivatives, aims to position the exchange in an increasingly regulated crypto ecosystem in Russia.
MOEX will launch perpetual futures for BTC and ETH in September, expanding its crypto derivatives line.
The new Russian digital currency law, which takes effect on September 1, will allow non-accredited investors to trade cryptocurrencies with annual limits.
Until now, the Russian Central Bank has only approved trading Bitcoin, Ethereum, and the USDT stablecoin for the mass market.
Moscow Exchange (MOEX), Russia’s main stock market platform, will incorporate perpetual futures on Bitcoin (BTC) and Ethereum (ETH) into its derivatives product offering, Maria Patrikeeva, head of the exchange’s derivatives unit, confirmed in statements collected by Interfax. The launch is scheduled for September, coinciding with the entry into force of the new Russian law on digital currency, which will expand investors’ access to these assets.
The platform has already been offering monthly and quarterly futures on cryptocurrencies such as Solana (SOL), Ripple’s XRP, and Tron (TRX) since mid-last year, and now it is seeking to further diversify its portfolio.
Patrikeeva indicated that the plan is to expand the list of underlying coins to ten, although the first steps will focus on the two digital assets with the highest market capitalization. Perpetual futures, which have no expiration date and are automatically renewed, allow traders to keep positions open indefinitely, adding flexibility compared with traditional contracts.
In addition to cryptoassets, the exchange plans to launch perpetual futures on about twenty popular foreign stocks, such as Amazon, AMD, Tesla, and Netflix, the executive said. Since the beginning of the year, MOEX’s derivatives department has introduced 34 new instruments and expects to add a similar number before the end of 2026, reflecting a continued effort to expand its offering in a context shaped by international sanctions.
Western sanctions imposed by Russia’s invasion of Ukraine have limited the access of Russian entities to global financial infrastructure, which has led many institutions to explore cryptocurrencies as a way to get around restrictions. Both MOEX and Sber, the country’s largest bank, have been targeted by these measures, but despite that, both have received a green light from the Russian Central Bank to offer crypto products starting in May 2025.
The new Russian digital currency law
The legislation known as «On Digital Currency and Digital Rights,» approved by both chambers of Russia’s parliament and signed by President Vladimir Putin this summer, will enter into force on September 1. The law comprehensively regulates activities related to cryptocurrencies, including investment, trading, and custody, and expands access to these assets to a wider public.
Until now, the Central Bank of Russia only allowed «highly qualified» investors to trade digital assets and their derivatives, but the new regulations remove that restriction. Starting next month, even retail investors will be able to invest in cryptocurrencies, although with certain limits, such as an annual cap of 300,000 rubles (approximately USD $3,500) per intermediary.
The law also restricts the digital assets available to the general public to the most liquid and highly capitalized cryptocurrencies worldwide. In early August, the Russian Central Bank approved for public trading only Bitcoin, Ethereum, and Tether’s USDT stablecoin, Cryptopolitan reported, indicating that the regulator is seeking to concentrate the market in assets with high liquidity and lower volatility associated with speculative projects.
Patrikeeva emphasized that expanding the derivatives offering is part of MOEX’s broader strategy to adapt to the new regulatory framework. The exchange is also considering creating a specialized depository for digital settlement, Bits.media reported, citing sources close to the industry. This move would pave the way for the future direct trading of cryptocurrencies on the platform, a step that has not yet been officially announced.
Implications for the Russian crypto market
The entry into force of the digital currency law means building a fully regulated crypto market in Russia— a significant shift from the restrictive stance the Central Bank maintained for years. The measure not only benefits individual investors, but could also make it easier for Russian companies to carry out international transactions, which have turned to cryptocurrencies to bypass sanctions.
Because perpetual futures operate without an expiration date, they allow market participants to hold leveraged positions more flexibly, which is often attractive for hedge funds and professional traders. However, the volatility of Bitcoin and Ethereum, along with global regulatory uncertainty, adds a risk component that Russian investors will need to consider.
The approval by the Russian Central Bank of only three assets (BTC, ETH, and USDT) for the general public could limit the initial offering until the list of coins is expanded. Even so, MOEX plans to increase the number of underlying cryptoassets to ten, suggesting that the Russian market may see greater diversification in the medium term.
Russia is thus joining countries that are trying to integrate cryptocurrencies into their regulated financial markets, albeit with its own particularities given geopolitical tensions. The new law will not only regulate investment, but also areas such as custody and taxation, which requires existing intermediaries and depositories to adapt.
With an eye on September 1, both MOEX and other Russian financial institutions are preparing to operate under the new rules. The question is whether opening up to retail investors and expanding products such as perpetual futures will help consolidate a sustainable crypto market in Russia, or whether international sanctions will continue to limit the global reach of these transactions.