Russia’s largest stock exchange is about to let ordinary people buy actual Bitcoin. The Moscow Exchange, better known as MOEX, is set to launch spot trading in a short list of digital assets starting December 1, 2026.

There is a catch, naturally. Retail investors will face an annual purchase limit of 300,000 rubles, or approximately $3,600, and they will need to pass a knowledge test before they can buy anything.

The rollout covers three assets for everyday investors: Bitcoin, Ether, and Tether’s USDT stablecoin. That’s the whole menu for anyone who doesn’t hold qualified investor status.

The bigger shift is the product itself. Until now, MOEX offered crypto exposure through derivatives, contracts that track a price without handing over…