Moscow Exchange (MOEX), Russia's largest stock exchange, will launch perpetual futures based on bitcoin and ether in September.

Cryptopolitan, a blockchain outlet, reported on Aug. 17 that Russia is accelerating moves to institutionalise cryptocurrency derivatives ahead of new laws related to digital assets taking effect next month.

MOEX will first launch 2 perpetual futures products based on bitcoin and ether indices. Interfax reported that Mariya Patrikeyeva (마리야 파트리케예바), managing director for the derivatives division, said MOEX plans to steadily expand coin-based products to as many as 10.

A perpetual futures contract has no set expiry date and rolls positions automatically into the next trading day. For investors, the feature is that they can maintain positions without having to switch contracts at expiry. MOEX has offered monthly and quarterly cryptocurrency futures to professional investors since last summer.

MOEX also plans to introduce perpetual futures based on overseas stocks such as Amazon, AMD, Tesla and Netflix in the near future. As the derivatives division unveils 34 new products this year, perpetual futures products are also expected to be launched faster within the year.

The move coincides with Russia's overhaul of its cryptocurrency regulatory framework. The Central Bank of Russia (CBR) allowed financial companies to offer cryptocurrency derivatives in May 2025, and MOEX, together with Russia's largest financial company Sber, is considered among traditional financial institutions that introduced related products relatively early. At the time, trading in digital assets and related derivatives was allowed only for "highly qualified" investors.

But the range of investor access will widen when key provisions of the law "On Digital Currency and Digital Rights", passed by Russia's parliament and signed by President Vladimir Putin, take effect on Sept. 1. The new law governs cryptocurrency investment and trading overall and opens the way for non-qualified investors to invest within certain limits. Retail investors, however, can invest only up to 300,000 roubles a year per broker.

The range of digital assets eligible for investment is also restricted. The central bank in early August approved only bitcoin, ether and the dollar-pegged stablecoin USDT issued by Tether as assets that can be traded publicly. Authorities will allow only assets that meet standards for liquidity, market capitalisation and global trading volume for retail investors.

The exchange has not yet disclosed when it will begin trading cryptocurrencies themselves. Local media outlet Bits.media reported that the exchange is preparing to build dedicated custody infrastructure for digital payments.

Under Russia's new law, from July next year all cryptocurrency transactions must be conducted through licensed intermediaries such as financial brokers or asset managers. Existing securities market depositories and newly established digital depositories will be responsible for cryptocurrency custody and accounting. As a result, Russia's cryptocurrency market is moving beyond an expansion of derivatives to a phase of building institutional infrastructure that includes trading, custody and settlement.