Moscow: The Moscow Exchange (MOEX) has announced that it will begin calculating and publishing a Bitcoin index starting on Tuesday. This move marks a significant step in integrating cryptocurrency data into the mainstream financial market in Russia.
According to Anadolu Agency, the calculation and publication of the index will be based on data from major cryptocurrency exchanges, including Binance, Bybit, OKX, and Bitget. This development follows the exchange's earlier initiative of offering Bitcoin futures trading, which was available exclusively for qualified investors.
In a related move last August, Russian President Vladimir Putin signed a decree that legalized the experimental use of cryptocurrencies in international payments and Forex transactions. This regulatory change has been pivotal in adapting to economic shifts, especially in the wake of Western sanctions.
The increasing popularity of cryptocurrencies in Russia is evident as local firms have begun to explore their use in international payments. This trend reflects a growing interest in digital currencies as a viable alternative in the current economic climate.