The Russian finance ministry and central bank are reportedly planning to launch a cryptocurrency exchange, catering to a niche group of 'highly-qualified' investors, as stated by news agency Interfax. During a recent ministry board meeting, Finance Minister Anton Siluanov emphasized that the exchange aims to 'regulate cryptocurrency assets and transition crypto operations into the mainstream'. Siluanov clarified that this initiative will be implemented under the experimental legal regime, and not within the domestic market. In March, the Central Bank of Russia proposed the introduction of cryptocurrency trading as part of the experimental legal regime, targeting highly-qualified investors with investments exceeding 100 million rubles or an annual income of over 50 million rubles.
Currently, Russians rely on foreign trading platforms to buy and sell cryptocurrencies, a situation the Finance Ministry and Central Bank may be seeking to address. Additionally, the Central Bank has proposed granting highly-qualified investors access to derivatives and securities linked to digital assets, which do not require the physical delivery of cryptocurrency but instead generate returns based on its value.