Russia’s Finance Ministry and Central Bank are set to launch a cryptocurrency exchange exclusively for “super-qualified investors,” operating under an experimental legal framework.
Finance Minister Anton Siluanov announced the initiative during a ministry meeting, stating that the platform aims to legalize crypto assets and bring digital asset transactions into a regulated environment.
The exchange will cater to individuals with significant financial resources, specifically those holding assets exceeding 100 million rubles (approximately $1.2 million) or earning at least 50 million rubles ($602,000) annually. Osman Kabaloev, Deputy Director of the Finance Ministry’s Financial Policy Department, noted that these thresholds are still under discussion and may be adjusted.
The platform will operate under a special experimental legal regime, separate from Russia’s standard domestic financial system. This approach allows for controlled testing of cryptocurrency transactions among a limited group of investors. The Central Bank had previously proposed a three-year experimental regime to permit select investors to trade cryptocurrencies, including Bitcoin, under regulated conditions.
Despite this development, the Central Bank maintains its stance against the use of cryptocurrencies for domestic payments. The bank emphasizes that cryptocurrency transactions between Russian residents remain prohibited outside the experimental framework, with penalties proposed for violations. ReutersFinance Magnates+1Interfax+1
The initiative reflects Russia’s evolving approach to digital assets, balancing the need for financial innovation with regulatory oversight. By targeting a specific investor class and operating within a controlled legal environment, authorities aim to explore the potential of cryptocurrencies while mitigating associated risks.
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