Russia Plans State-Backed Crypto Exchange for Elite Investors
Russias finance ministry and central bank are moving forward with plans to establish a state-backed cryptocurrency exchange exclusively for the countrys wealthiest investors.
Exclusive Access for Super-Qualified Investors
The initiative, announced by Finance Minister Anton Siluanov and reported by Russian media outlets RBC and Interfax, forms part of a broader strategy to regulate digital assets within a controlled and highly restricted environment.
The proposed exchange will operate under an experimental legal regime (ELR) and be accessible only to a newly defined category of super-qualified investors. This group is expected to include individuals with either a minimum of 100 million rubles (approximately $1.2 million) in assets or an annual income exceeding 50 million rubles (around $602,000).
Financial Limits Not Set in Stone
Osman Kabaloev, Deputy Director of Russias Financial Policy Department, confirmed that these financial thresholds were introduced during preliminary discussions but acknowledged they remain subject to revision.
He stated,
Perhaps it will be in this format, or these indicators may be adjusted this is possible. I believe there will be a wide range of discussions.
Crypto Operations to Be Legalized, But Outside Domestic Markets
According to Siluanov, the primary objective behind the exchange is to bring crypto-related operations out of the shadows while ensuring they remain within the boundaries of existing Russian legal structures.
Importantly, the exchange will not integrate with Russias domestic financial system but will instead handle transactions permissible under the ELR framework.
Russian legislation currently allows citizens to hold and trade cryptocurrencies, though using them for domestic payments remains illegal following a law enacted in January 2021. In the absence of domestic trading platforms, most Russian investors rely on foreign crypto exchanges, a gap the proposed platform seeks to address albeit for a restricted investor class.
Regulatory Caution Amid Growing Interest
The Central Bank of Russia, historically a vocal opponent of cryptocurrencies as legal tender, has shown tentative openness to controlled crypto initiatives. In March, it proposed allowing a limited number of high-net-worth individuals to engage in crypto transactions under a three-year experimental regime.
Deputy Finance Minister Ivan Chebeskov indicated earlier this year that while the project has regulatory backing, an official launch is unlikely before late 2025. The careful, measured approach reflects regulators intent to test digital asset frameworks without disrupting domestic financial stability.
Broader Crypto Ambitions Despite Sanctions and Restrictions
Russias pivot towards crypto regulation comes amid increasing scrutiny from Western authorities. In April, Kabaloev suggested that Russia should develop its own state-backed stablecoin following the freezing of wallets connected to the sanctioned crypto exchange Garantex by U.S. regulators and stablecoin issuer Tether.
Additionally, Evgeny Masharov, a member of Russias Civic Chamber, proposed the creation of a government-managed crypto fund, composed of digital assets seized from criminal operations an idea that further signals Russias growing interest in carving out a controlled space within the global crypto economy.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Read more: https://cryptodaily.co.uk/2025/04/russia-plans-state-backed-crypto-exchange-for-elite-investors
Text source: Crypto Daily™
