Russian Ministry of Finance and Central Bank launches cryptocurrency exchanges for “super qualified investors”
The Russian Ministry of Finance and Russian Bank will jointly launch a cryptocurrency exchange designed specifically for super-qualified investors, as part of a broader effort to bring cryptocurrency operations into a formal regulatory framework. RBC Report.
“With the central bank, we will launch cryptocurrency exchanges to super qualified investors. Crypto assets will be legalized and crypto operations will bring shadows from the shadows. Naturally, not within our country, but these actions are carried out today within the framework of the experimental legal system,” the report within the framework of the latest Anton Siluanov Mecter of Anton Siluanov, reported within the framework of Anton Siluanov. RBC.
The move follows a three-year proposal from the central bank to propose an Experimental Legal System (ELR), allowing a group of investors to legally trade cryptocurrencies. The concept is determined with strict wealth and income thresholds as the new investor category (qualified investors) around a new investor category.
Previously, the central bank recommended that such status be granted to individuals with at least Rs 100 million in securities or deposits, or annual income of more than 50 million. However, the Ministry of Finance said these requirements are not the final requirement.
“Maybe it’s in this format, or the indicators will be adjusted in one direction or the other in some way – that’s possible. I think there will be a wide discussion.”
The initiative has attracted attention among financial institutions. In March, Vladimir Krekoten, managing director of sales and business development at Moscow Exchange, confirmed his preparations for cryptocurrency-related derivatives trading, saying the platform is at the “maximum readiness level” and can start operations in 2025.
The St. Petersburg Stock Exchange (SPB Exchange) has expressed similar ambitions. “SPB Exchange supports initiatives aimed at expanding investors’ investment opportunities and diversification strategies. We plan to start trading products related to cryptocurrency value,” said one representative. RBC Investment.
While some companies see it as a transformative shift, others remain skeptical. Igor Danilenko, head of capital asset management in Renaissance, sees cryptocurrency as a viable asset class: “There are many ways to protect yourself from inflation without resorting to tokens without any real copy, depending on the influx of new buyers and is essentially very similar to the Golden Pin Technology Program.”
