- The Ministry of the Central Bank and the Finance of Russia to launch an Crypto exchange within the framework of the experimental legal regime (ELR).
- Only people with high income or important securities will be accredited.
- The proposed crypto exchange aims to legalize the use of cryptography without relaxing interior payment prohibitions.
Russia is launching an exchange of crypto supported by the government for investors at High Networth, marking a major step towards the legalization of the cryptocurrency trade.
The Ministry of Finance of Russia and the Central Bank to pilot the Crypto Exchange State under ELR
The Russian Ministry of Finance and the Central Bank will jointly establish an exchange of cryptocurrency under the country’s experimental legal regime (ELR), the Minister of Finance confirmed on Wednesday.
According to official reportsThe proposed cryptocurrency trading platform will be limited to “highly qualified investors” in order to test an official legal framework without completely losing the national ban on cryptographic payments.
“This will legalize cryptographic assets and will bring out the shadow cryptography operations,” said Silianov.
Although the exchange will not work for retail investors, it represents a key step towards the regulation of cryptography in Russia, long constrained by geopolitical sanctions and legal uncertainty. The pilot will perform under the ELR, which allows designated participants to test digital financial tools in a closely controlled regulatory environment.
High eligibility criteria limit access to whale investors
The Russian central bank has proposed eligibility rules forcing investors to hold more than 100 million rubles (1.2 million dollars) or to earn at least 50 million rubles ($ 600,000) per year. This decision is intended to ensure that only sophisticated investors with high risk tolerance have access to cryptographic trading under the new regime.
The Ivan Chebeskov finance minister suggested that the new exchange could go through existing infrastructure or approved new arrivals, but its launch is still in several months. Meanwhile, the central bank continues to ban the crypto as a means of legal payment, offering penalties for internal transactions carried out outside the sandbox. However, it also approved the idea of linking investment yields to cryptographic value thanks to non -deliverable derivatives and other financial instruments.
The officials claim that the debates in progress with the legislators and regulators will shape the end contours of the ELR, including the possible updates of the investor qualification criteria.
What is the next step?
The crypto exchange pilot should not start for at least six months. Regulators finalize the eligibility rules and license requirements. Russia’s decision can report a broader adoption of cryptography in sanctioned economies, but strict access controls suggest prudent exposure to the state to digital assets.
