24.04.2025 16:34
The Central Bank of Russia and the Ministry of Finance plan to establish a cryptocurrency exchange for high-asset investors under an experimental legal regime. Finance Minister Anton Siluanov emphasized that this initiative will legalize crypto assets and record transactions.
The proposal announced by the Central Bank of Russia in March is now turning into a concrete project. Only individuals in the "super qualified investor" category, who have assets exceeding 100 million rubles (1.2 million dollars) or an annual income of at least 50 million rubles (602,000 dollars), will benefit from the newly created platform. This move signals a controlled easing process in Russia's relationship with the cryptocurrency ecosystem. Following the cryptocurrency payment ban imposed by Moscow in 2021, this step represents a significant turning point in Russia's digital assets policy.
Russia Lifts Cryptocurrency Ban for Wealthy Investors
Russia's approach to the cryptocurrency world is showing a significant change. Finance Minister Anton Siluanov announced that the planned cryptocurrency exchange, in collaboration with the central bank, will be created for "super qualified investors." With this development, cryptocurrencies will gain legal status, and transactions will be recorded.
Siluanov emphasized that this regulation will take place as part of transactions permitted under an experimental legal regime, not domestically. The Russian central bank had proposed on March 12 to allow the trading of cryptocurrencies like Bitcoin (BTC) under a three-year experimental regime.
Osman Kabaloev, deputy head of the financial policy department of the Ministry of Finance, stated that the criteria for super qualified investors have not yet been finalized. He mentioned that these criteria were raised in the early stages of discussions last year and are still open for debate.
Russia had banned the use of digital currencies like Bitcoin for payments with the cryptocurrency law that came into effect in January 2021. Nevertheless, the country is making new initiatives in the crypto world. Kabaloev argued that the Kremlin should create its own stablecoin following the freezing of wallets linked to the sanctioned Russian exchange Garantex on April 16.
Evgeny Masharov, a member of the Russian Civic Chamber, also proposed the establishment of a Russian government crypto fund that would include assets confiscated from criminal cases on March 20. In this process, other officials are working on new legislation that will define cryptocurrency as property.