Russia is preparing to launch a cryptocurrency exchange specifically for professional investors, marking a significant step in legalizing digital assets and enhancing domestic crypto market transparency. According to Interfax news agency on April 23, this crypto exchange is being implemented through cooperation between the Russian Central Bank and the Ministry of Finance, operating within the framework of an "experimental legal regime" for highly qualified>Finance Ministerlu:
"This initiative will legalize crypto assets and remove related activities from the gray zone." He noted that transactions will not be conducted directly domestically, but within the framework permitted by the Experimental Legal Regime (ELR).
According to a proposal from the Central Bank in March, only investors will be allowed to participate. Specifically, these are individuals who own investment portfolios and deposits worth over 100 million rubles (equivalent to $1.2 million), or have an annual income exceeding 50 million rubles (around $600,000).
The Russian Central Bank stated that program aims to enhance to cryptocurrency market transparency, establish service provision standards, and expand investment opportunities for high-risk individuals. This is seen as a signal that Russia is gradually approaching and applying blockchain and digital asset technologies, despite President Vladimir Putin previously signingaling a law banning crypto as a payment method in 2022.
Previously, Russian officials have also repeatedly emphasized that international sanctions will not prevent people from accessing the crypto marketor or using border them for borders cross-border transactions. According to Reuters, Russian oil companies have utilized Bitcoin and Ethereum through intermediaries to conduct oil trade with China and India.
The initiative to establish a new a shows that Russia is gradually building a legal framework for assets, while simultaneously leveraging them as part of a national financial diversification strategy amid increasing international sanction pressures. This is considered a notable milestone for both the regional cryptocurrency market and global professional investors.
