Russian Finance Ministry Plans Regulated Crypto Platform
Russia’s Ministry of Finance and the Central Bank are working on launching a crypto exchange for super-qualified investors. The platform will operate as part of a pilot project under an “experimental legal regime,” said Finance Minister Anton Siluanov on April 23.
The Goal: Bring Crypto Out of the Shadows
Siluanov emphasized that the goal is to legalize crypto operations within the boundaries of Russian law. Currently, Russian legislation allows citizens to buy and hold cryptocurrencies, but prohibits their use in domestic payments.
Access Limited to High-Income Investors
According to Central Bank proposals, the “super-qualified” status may require individuals to hold over 100 million rubles in investments or earn more than 50 million rubles annually. Final criteria are still under discussion.
Russian Investors Still Rely on Foreign Platforms
Due to the lack of a domestic exchange, most Russian crypto investors currently use foreign platforms for trading. The new exchange aims to reduce this dependence while maintaining regulatory oversight.
No Launch Date Confirmed Yet
Deputy Finance Minister Ivan Chebeskov previously said that the launch is unlikely to occur within the next six months. However, the regulatory dialogue is ongoing, and the project remains a national financial priority.
