Russia’s central bank, finance ministry to launch crypto exchange

Russia’s Finance Ministry and Central Bank are reportedly gearing up to launch a national crypto exchange tailored for super-qualified investors. This initiative will operate under an experimental legal framework, Finance Minister Anton Siluanov confirmed during a recent ministry meeting, according to RBC and Interfax reports on April 23.

“Together with the Central Bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations brought out of the shadows,” Siluanov stated.

This exchange won’t operate on the domestic market directly but will be part of specialized operations permitted under the legal regime. The Central Bank had earlier proposed, on March 12, to allow a limited number of investors to trade crypto assets like Bitcoin under a three-year trial period.

• The new investor category — super-qualified investors — would be defined by financial thresholds:

• Net assets exceeding 100 million rubles ($1.2 million)

• Or an annual income of 50 million rubles ($602,000)

However, these criteria remain under discussion. Osman Kabaloev, deputy director of the Finance Ministry’s financial policy department, noted that final definitions may be refined during upcoming talks.

Russia, which banned cryptocurrency payments in January 2021, has been gradually exploring controlled crypto opportunities. On April 16, officials floated the idea of a state-backed stablecoin following the US freeze of wallets linked to sanctioned exchange Garantex. Additionally, proposals for a Russian government crypto fund, leveraging assets seized in criminal cases, are also in discussion.

Meanwhile, work continues on legislation to classify crypto as property under criminal law.

Source: Cointelegraph

Voice of Osiz

Russia’s move to launch a crypto exchange for super-qualified investors feels more like a power play than true innovation. At Osiz, we believe blockchain’s strength lies in inclusivity, not exclusivity. While this experimental regime may regulate crypto activity, it sidelines everyday users — the heartbeat of decentralization. True progress happens when opportunities are open to all.