Russia to Launch Crypto Exchange for Highly-Qualified Investors
The Russian finance ministry and central bank plan to launch a crypto exchange for "highly-qualified" investors. Key details include:
- The exchange aims to legalize crypto assets and formalize operations.
- Finance Minister Anton Siluanov stated this will occur under an experimental legal regime (ELR).
- Only highly qualified investors, defined as individuals with investments over 100 million rubles ($1.2 million) or annual incomes exceeding 50 million rubles ($600,000), will participate.
- Currently, Russians use overseas platforms for crypto trading due to the lack of a domestic exchange.
- The Central Bank also proposes allowing these investors access to derivatives and securities linked to digital assets without direct delivery of crypto.