Russia Plans Regulated Crypto Market for Elite Investors as Stocks Surge
1min read Russia is actively considering the establishment of a regulated cryptocurrency market specifically designed for elite investors. This initiative is being spearheaded by the Ministry of Finance and the Central Bank, with the primary goal of ensuring financial stability and mitigating the risks associated with digital assets. The proposal involves creating a controlled environment for cryptocurrency trading, which would operate under an experimental legal regime.
The Ministry of Finance, in collaboration with the Central Bank, is actively discussing the development of a new cryptocurrency trading market. This is not just an idea but a concrete task, as stated by Alexei Yakovlev, director of the ministry’s financial policy department. Yakovlev emphasized the need for a controlled environment for digital currency trading during the Asset Management Market Leaders Forum. The initiative aims to function safely within the financial system, ensuring that all activities are regulated and monitored.
A key aspect of the proposal is the introduction of a new investor category called “super-qualified” investors. This classification does not currently exist, and authorities are in the process of defining the eligibility criteria. These investors would need to meet strict financial and experience criteria before becoming eligible for participation. Currently, the minimum threshold for qualified investors in Russia is set at 12 million rubles, but this limit is expected to double to 24 million rubles by next year. This increase aligns with the government’s aim of restricting crypto trading to individuals with significant financial means and industry knowledge.
Introducing a regulated crypto market in Russia presents several challenges. While citizens can legally buy and store cryptocurrencies, they are not allowed to use them for payments. Yakovlev acknowledged that most trading is conducted on foreign platforms due to the lack of a centralized domestic exchange. Since September 2023, Russia’s central bank has been running an experimental program with a special legal framework that allows transactions in crypto by some foreign trade participants. However, Yakovlev noted that much work remains before broader adoption can be considered.
Key concerns about the initiative include financial security, the stability of monetary policy, and risk mitigation. Authorities are analyzing whether the planned market structure aligns with Russia’s financial policies, as it could potentially threaten the country’s economy. The finance ministry, central bank, and industry players are methodically evaluating the idea to illustrate its feasibility while clarifying security risks and investor protections.
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