Russia will establish a CRIPTO exchange for qualified investors

Russia is prepared to start new criptocurrency exchange designed specifically for highly qualified investors.

The Russian Ministry of Finance and the Central Bank are prepared for the launch of a cryptocurnent stock market targeting “superqualified investors”, according to the Minister of Finance Anton Siluanov. The announcement came during the meeting of the Committee of the Ministry of Finance 23. April, as export by the local media outlet RBC.

The planned platform is part of the current effort of Russia to regulate digital property under an experimental Legal regime. According to Guiluanov, the goal is to bring crypto operations “from shadows”, but within the limits of existing legal frameworks. Mateau, the exchange will not work within the domestic financial system of Russia, but will deal with crypto transactions under ECR.

Currently Russian law allows individuals to buy and retain cryptocurrency, but forbids their use for domestic payments. There is also no centralized crypto exchange with its headquarters in Russia, and citizens rely on offshore digital assets platforms.

To participate in the proposed exchange, investors could meet strict requirements. The Central Bank suggested that “super-qualified” status is reserved for individuals with over ₽100 million (approximately $ 1.1 million) in investment or annual income exceeding ≥50 million ($ 550,000).

However, officials of the Ministry of Finance said that these thresholds are still underway to discuss. Those who do not meet these criteria can still get cryptic exposure through derivatives, which are products related to the price of cryptian property, but without actual delivery. They would be available to regular qualified investors.

The date of starting of the new exchange was not confirmed, although the Deputy Minister of Finance Ivan Churcheskov noticed in March to spill likely to start six months. Despite the continuation of the central bank opposition Cryptocurrenci as a legal tender, the initiative shows that Russian regulators become more interested in cautiously compromising cautiously under strict surveillance.