Russia Considering Launch of a Crypto Exchange

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The Finance Ministry and Central Bank of Russia are set to launch a crypto exchange for highly qualified investors, Finance Minister Anton Siluanov announced during a ministry board meeting.

“Alongside the Central Bank, we will establish a crypto exchange for highly qualified investors. This initiative aims to legalize crypto assets and bring operations into the open. It will take place under the experimental legal regime, not domestically,” Siluanov stated.

The law enabling the Central Bank to pilot cryptocurrency settlements for foreign trade participants came into effect on September 1 last year.

On March 11, the Central Bank proposed to the government the inclusion of cryptocurrency transactions within the experimental legal regime for highly qualified investors. This status is projected for individuals with investments in securities and deposits exceeding 100 million rubles, or an income surpassing 50 million rubles in the previous year.