Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Moscow Exchange (MOEX) Bows Out of Russia’s Crypto Trading Pilot Program

Source Livebitcoinnews

MOEX departs from Russia’s crypto pilot and focuses on other digital ventures.
Russia promotes the digital ruble and proposes additional cryptocurrency exchanges to increase trading.

The Moscow Exchange (MOEX), Russia’s largest financial exchange, has decided not to take part in a new pilot program for cryptocurrency trading, despite recent legislation allowing digital currencies to be regulated by the central bank. Nikolai Trunichkin, MOEX’s head of digital projects, confirmed the decision, citing a preference for blockchain and tokenization instead.

In contrast, the Saint Petersburg Stock Exchange will move on with the pilot, which attempts to integrate digital currencies into traditional financial processes. This move represents a big step forward in Russia’s emerging legal framework for cryptocurrency trading, as new rules passed by the Russian State Duma ensure tight Central Bank control.

Russia Expands Digital Currency Initiatives

Russia is also pursuing its digital ruble pilot program, which will involve 9,000 individuals and 1,200 businesses. This program will include capabilities such as account administration, user transfers, and QR code payments, with complete deployment planned by late 2025. Furthermore, Russia plans to open new cryptocurrency exchanges and stablecoin platforms in Moscow and Saint Petersburg to boost international trade and lessen reliance on the US dollar.

MOEX’s exit could have an impact on perceptions of bitcoin trading in Russia, given its considerable market presence. However, the continuation of the pilot by the Saint Petersburg Stock Exchange keeps Russia’s broader crypto integration plans on track, perhaps paving the way for more widespread digital currency use.

Simultaneously, Russia is making tremendous headway on its digital ruble pilot. The program now allows users to open, close, and replenish digital ruble accounts, as well as perform transactions using QR codes. Officials estimate that the digital ruble will be fully implemented by 2025, signifying a trend toward a centralized, regulated digital money sector.

Despite MOEX’s withdrawal, Russia’s commitment to digital currency integration and financial infrastructure construction continues, demonstrating the country’s strategic move toward digital assets.

The post Moscow Exchange (MOEX) Bows Out of Russia’s Crypto Trading Pilot Program appeared first on Live Bitcoin News.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Sep 22, Tue

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Sep 23, Wed

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Sep 24, Thu

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Author TradingKey

Sep 24, Thu

As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Popular Symbols