Russia Plans Regulated Crypto Exchange for Elite Investors
- Russia is planning to introduce a crypto exchange, and the exchange will be focused on elite investors.
- A proposal outlined a new investor category, super-qualified investors categorized by wealth and income.
The Finance Ministry and Central Bank of Russia are expectedly to work on introducing a crypto exchange for elite investors under an experimental legal regime
The Russian Media Group RBC reported on April 23 that during a ministry meeting, the Finance Minister of Russia, Anton Siluanov, mentioned that the exchange will be focused on super-qualified investors
He further went on to state that “With the integration of the Central Bank, the Finance Ministry will launch a crypto exchange for super-qualified investors.” Crypto assets will be legalized and crypto operations will be brought into light.
On March 12, the Central Bank of Russia publicized a proposal mentioning permission to a limited number of Russian investors having a certain amount of assets to buy or sell crypto such as Bitcoin (BTC) under the three-year experimental regime
The proposal also outlined a new investor category, super-qualified investors categorized by wealth and income of more than 100 million rubles, or who should have a yearly income of at least 50 million rubles.
Russia Weighs Metrics for ‘Super-Qualified’ Crypto Investors
RBC also reported that Osman Kabaloev, the deputy director of the Finance Ministry’s financial policy department, revealed that the metrics for a super-qualified investor are not final yet, as they hovered in the early stages of discussions in 2024
Kabaloev also stated that “certainly it will be in this setup, or metrics will be somehow adjusted unidirectionally or in another direction- this is possible and I think there will be a broader range of discussions
Russia banned the usage of cryptocurrencies such as Bitcoin for payments under its first crypto law from January 2021. Also, the country argued for years against cryptocurrencies, mentioning that they could be used in money laundering and financing terrorism
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