Russia’s Finance Ministry and Bank of Russia jointly designed a cryptocurrency exchange designed to launch a cryptocurrency exchange specially designed for super-qualified investors, as part of a comprehensive effort, as part of a comprehensive effort to crypto operation in a formal regulatory structure. RBC Report,
“In association with the Central Bank, we will launch a crypto exchange for super-worthy investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadow. Naturally, not within our country, not within our country, but those operations have been done within the structure of experimental legal governance today,” Finance Minister Anton Siluanov said during a recent meeting. RBC,
The move follows a proposal by the central bank to introduce an experimental legal rule (ELR) for three years, allowing a select group of investors to legally trade cryptocurrency. The concept defines strict money and income limit to central-super-qualified investors around a new investor category.
Earlier, the central bank suggested that this situation should be given to at least ₽100 million individuals in securities or deposits, or the annual income is more than ₽50 million. However, the Finance Ministry has indicated that these requirements are not final.
Osmman Kablov, Deputy Director of the Ministry’s Financial Policy Department, said, “Perhaps it will be in this format or these indicators will be adjusted in one direction in any way – this is possible. I think there will be a wide range of discussions.”
This initiative is already receiving traction between financial institutions. In March, Managing Director Vladimir Krekoten for sales and business development at the Moscow Exchange confirmed the readiness to launch derivative trading associated with cryptocurrency, stating that the platform is “at the level of maximum readiness” and can start operations in 2025.
St. Petersburg Stock Exchange (SPB Exchange) has expressed similar ambitions. “SPB exchange investors support the initiative with the aim of expanding investors’ investment opportunities and diversifying their strategies. We plan to introduce trading products tied to the value of cryptocurrency,” a representative said. RBC investment,
While some firms see it as a transformational change, others suspect. Igor Denylonco, head of asset management at Renaissance Capital, dismissed Crypto as a viable asset class: “There are several ways to protect themselves from inflation without resorting to a real collateral tokens, which depend on the influx of new buyers and summarize a pyramid plan.”
