Russia’s Finance Ministry and Bank of Russia are set to jointly launch a cryptocurrency exchange, designed exclusively for super-qualified investors, as part of a broader effort to bring crypto operations into a formal regulatory framework, according to one RBC report.
“Together with the central bank we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized and crypto surgeries will be brought out of the shadows. Of course, not within our country, but these operations that have been carried out today within the framework of the experimental legal regime,” said Finance Minister Anton Siluanov under a new ministerial, as reported by a striker, as reported by a new ministerial ministerial, as reported by a new ministerial, as reported by a striker, as reported by a new ministerial ministry, as reported by a new ministerial, as reported by the framework of the framework, as reported by a new ministerial ministry, as reported by a new ministerial, as reported by the framework of a striker by a new ministerial minister. RBC.
The move follows a proposal from the central bank to introduce an experimentally legal regime (ELR) for three years, giving a selected group of investors the opportunity to trade with cryptocurrencies. The concept centers around a new investor category-built investors defined by strict wealth and income limits.
Previously, the central bank suggested that this status be awarded to persons with at least ₽100 million in securities or deposits or an annual income that exceeds ₽50 million. However, the Ministry of Finance has indicated that these requirements are not final.
“Maybe it will be in this format, or these indicators will somehow be adjusted in some direction – this is possible. I think there will be a host of discussions,” said Osman Kabaloev, deputy director of the ministry’s financial department.
The initiative already wins traction among financial institutions. In March, Vladimir confirmed the Krekoten, CEO of Sales and Business Development at the Moscow exchange, readiness to launch derivatives that are traded, linked to cryptocurrencies and said the platform is at “maximum level of readiness” and could begin operations in 2025.
Saint Petersburg Stock Exchange (SPB Exchange) has expressed similar ambitions. “SPB Exchange supports initiatives aimed at expanding investors’ investment opportunities and diversifying their strategies. We plan to start trading with products linked to the value of cryptocurrencies,” a representative said told RBC Investments.
While some companies see this as a transformative shift, others remain skeptical. Igor Danilenko, head of asset management in Renaissance Capital, dismissed crypto as a viable asset class: “There are many ways to protect yourself from inflation without resorting to tokens without any real security that depends on the influx of new buyers and looks very similar to a pyramid scheme in Essence.”