It was reported that the Central Bank of Russia and the Ministry of Finance will establish a new cryptocurrency exchange that will be open only to high-quality investors.
Russia's Finance Minister Anton Siluanov stated that this step will legalize cryptocurrencies and make shadow transactions transparent. Siluanov said, "Of course, this will not cover all investors, it will only be applicable to transactions permitted by the regulatory framework."
According to the Central Bank, the right to conduct cryptocurrency transactions within the experimental regulatory framework will be granted to individuals whose investments in securities and deposits exceed 100 million rubles or 1 million 200 thousand dollars in the previous year, and 50 million rubles or 600 thousand dollars more.
The Central Bank announced that this step aims to increase the transparency of the cryptocurrency market, establish service standards, and expand investment opportunities for sophisticated investors with a higher risk appetite.
Despite Vladimir Putin signing a law banning cryptocurrency payments in 2022, Russia is softening its stance towards cryptocurrencies. Last month, Reuters reported that Russian oil companies have also been using cryptocurrencies for transactions with China and India.
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Russia is establishing its own official cryptocurrency exchange.
It was reported that the Central Bank of Russia and the Ministry of Finance will establish a new cryptocurrency exchange that will be open only to high-quality investors.
Russia's Finance Minister Anton Siluanov stated that this step will legalize cryptocurrencies and make shadow transactions transparent. Siluanov said, "Of course, this will not cover all investors, it will only be applicable to transactions permitted by the regulatory framework."
According to the Central Bank, the right to conduct cryptocurrency transactions within the experimental regulatory framework will be granted to individuals whose investments in securities and deposits exceed 100 million rubles or 1 million 200 thousand dollars in the previous year, and 50 million rubles or 600 thousand dollars more.
The Central Bank announced that this step aims to increase the transparency of the cryptocurrency market, establish service standards, and expand investment opportunities for sophisticated investors with a higher risk appetite.
Despite Vladimir Putin signing a law banning cryptocurrency payments in 2022, Russia is softening its stance towards cryptocurrencies. Last month, Reuters reported that Russian oil companies have also been using cryptocurrencies for transactions with China and India.
Published: April 24, 2025 10:30