The Russian Ministry of Finance to offer the CRIPTO trading “highly qualified” investors: report

The Russian Ministry of Finance and the Central Bank were asked to discover the crypto exchange for “highly qualified” investors, The Interfax news agency reported on Wednesday.

The stock market will “legalize cryptic funds and bring crypto operations from shadows,” said Minister of Finance Anton Siluanov during the meeting of the Ministry board, in accordance with the report.

“Of course, it will not happen in the country, but as part of operations allowed according to experimental legal regime,” Siluanov said.

Suggested Central Bank of Russia Allow CRIPTO trading in the pilot known as an experimental legal regime (ELR) in March.

This would refer to highly qualified investors, a new category of investors for individuals whose investments exceed 100 million rubles ($ 1.2 million) or annual income exceeding 50 million rubles ($ 600,000).

The absence of a centralized domestic crypto means that Russians rely on overseas trade platforms for buying and selling crypticals, which the Ministry of Finance and the Central Bank may request to oppose.

The Central Bank also proposed to enable highly qualified investors to access derivatives and securities associated with digital means, which do not include delivery of crypting investor, but they encourage return on the basis of its value.