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#加密市场观察
🚀 National power officially enters the arena! Russia's two major exchanges announce the launch of cryptocurrency trading

📅 Key timeline:
• March 2025: Current pilot program starts
• July 1, 2026: Comprehensive regulatory framework takes effect
• Immediate action: MOEX and SPB have begun offering crypto derivatives

💎 Core changes:
1️⃣ Identity recognition: Bitcoin and stablecoins will be officially defined as "currency assets"
2️⃣ Channel regularization: Trading will be conducted through licensed exchanges and brokers
3️⃣ Tiered access: Non-qualified investors have an annual purchase limit of 300,000 rubles (approximately 27,000 RMB), while qualified investors face almost no restrictions

🌍 Global impact:
• Traditional financial giants directly enter the market, bringing crypto assets into mainstream trading
• Emerging market powers establish a model for a "regulation-trading" closed loop
• Global crypto liquidity may reach a new peak

⚠️ Note: Privacy coins are still excluded from compliant trading.

This is not only Russia's compliance process but also a significant opening of the global traditional financial system to the crypto world. When the financial infrastructure of the world's largest energy country fully accepts crypto assets, the next explosion point is already becoming apparent.

Follow us for the first insights on how national-level financial reforms are reshaping the crypto market landscape.