The Moscow Exchange (MOEX) has announced plans to commence the calculation and publication of a Bitcoin Index, starting tomorrow. This decision marks a significant step in integrating cryptocurrency into mainstream financial markets in Russia.
According to a statement released by MOEX, the index will be calculated using data sourced from prominent cryptocurrency exchanges, namely Binance, Bybit, OKX, and Bitget. This move follows an earlier initiative where MOEX began offering Bitcoin futures trading options for qualified investors.
In a related development, the use of cryptocurrencies in international payments was legalized through a decree signed by Russian President Vladimir Putin in August 2024. This decree allows for the experimental use of cryptocurrencies in both international payments and Forex transactions.
The popularity of cryptocurrencies in Russia has surged, largely due to the sanctions imposed by Western countries. In response, Russian companies have increasingly turned to cryptocurrencies as an alternative for conducting international payments.
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