MOSCOW

The Moscow Exchange (MOEX) has announced that it will begin calculating and publishing a Bitcoin index starting on Tuesday.

A Monday statement from the exchange said the calculation and publication of the index will be based on data from cryptocurrency exchanges such as Binance, Bybit, OKX, and Bitget.

MOEX had previously begun offering Bitcoin futures trading for qualified investors.

Russian President Vladimir Putin signed a decree last August legalizing the experimental use of cryptocurrencies in international payments and Forex transactions.

Due to Western sanctions, the popularity of cryptocurrencies in Russia has recently risen, with local firms also occasionally using cryptocurrencies in international payments.