Russia to establish crypto exchange for qualified investors

Russia is preparing to launch a new exchange of cryptocurrency designed specifically for highly qualified investors.

The Russian Ministry of Finance and the Central Bank are preparing to launch an exchange of cryptocurrency targeting “super-qualified investors”, according to the Minister of Finance, Anton Saluov. The announcement occurred at a meeting of the board of directors of the Ministry of Finance on April 23, as reported by local media RBC.

The planned platform is part of the current efforts of Russia to regulate experimental Legal regime. According to Soluanov, the objective is to bring out “out of the shadow” cryptographic operations, but within the limits of existing legal frameworks. In particular, the exchange will not work in the inner financial system of Russia, but will manage the cryptographic transactions authorized under the ELR.

Currently, Russian law allows individuals to buy and socket cryptocurrencies but prohibits their use for interior payments. There is also no centralized crypto exchange based in Russia, citizens based on offshore platforms to exchange digital assets.

To participate in the proposed scholarship, investors should meet strict requirements. The central bank suggested that “super-qualified” status is reserved for people with more than 100 million ₽ million (approximately 1.1 million dollars) in investment or annual income exceeding $ 50 million ($ 550,000).

However, officials of the Ministry of Finance said that these thresholds were still under discussion. Those who do not meet these criteria can still gain an exposure to cryptography through derivatives, which are products related to the price of cryptographic assets but without real delivery. These would be available for regular qualified investors.

The launch date of the new exchange has not been confirmed, although the Vice Minister of Finance Ivan Chebeskov noted in March that it is unlikely that a deployment has been starting for six months. Despite the prosecution of the central bank opposition For cryptocurrency as a tender, the initiative shows that Russian regulators are more interested in adopting it with caution under strict surveillance.