Russian MOEX Launches Derivative Bitcoin Index Amid Contradictions

The Moscow Exchange is launching a new index, MOEXBTC, starting June 10, which will be based on the average prices of BTC/USDT futures from four foreign crypto exchanges: Binance, Bybit, OKX, and Bitget. These exchanges are officially not operating in Russia, and officials label them as 'high risk' and 'opaque.' This creates an apparent contradiction: - Bitcoin is considered harmful. - Exchanges are regarded as garbage. - Yet, they introduce a paper asset tied to BTC without providing real Bitcoin or decentralization. The index appears to be a derivative product, susceptible to regulation and control, lacking the core attributes of cryptocurrency such as self-custody, DeFi, and infrastructure support like cold wallets. It symbolizes a parasitic reliance on liquidity without technological innovation, reducing Bitcoin to a controllable asset. True blockchain depends on individual asset control and digital sovereignty, which this derivative does not offer. For genuine crypto asset management and security, consider reputable courses and tools like Ledger cold wallets and MetaMask, emphasizing true decentralization and self-custody.