Russia’s Finance Ministry And Central Bank To Launch Crypto Exchange For “Super-qualified Investors”

The Russian Ministry of Finance and the Bank of Russia are scheduled to join the exchange of an encrypted currency exclusively designed for highly qualified investors, as part of a wider effort to bring codes to an official organizational framework, according to RBC a report.

“Along with the Central Bank, we will launch an exchange of encryption for very qualified investors. Crystation will be legalized, and coding will be removed from the shadow. Of course, not in our country, but those operations that were carried out today within the framework of the experimental legal system.” RBC.

This step follows a suggestion from the central bank to enter an experimental legal system (ELR) for a period of three years, allowing a selected group of investors to share the legally encrypted currencies. The concept focuses on a new investor category-eligible investors for errors-specified through the thresholds of wealth and strict income.

Previously, the central bank suggested that this situation be given to individuals who have at least $ 100 million in securities, deposits, or annual income that exceeds 50 million dollars. However, the Ministry of Finance indicated that these requirements are not final.

“Perhaps this coordination will be or these indicators will be modified in one way or another in one direction or another – this is possible. I think there will be a wide range of discussions,” said Othman Kabaliv, Deputy Director of the Ministry of Finance of the Ministry.

The initiative is already gaining traction between financial institutions. In March, Vladimir Kreikotin, Managing Director of Sales Development and Business Development on the Moscow Stock Exchange, confirmed the willingness to launch derivatives related to cryptocurrencies, saying that the platform is at the “maximum preparedness level” and its operations may begin in 2025.

The Saint Petersburg Stock Exchange has expressed similar ambitions. A representative of a representative told “Acting”: “SPB Exchange supports initiatives aimed at expanding investment opportunities for investors and diversifying their strategies. We plan to start trading products associated with the value of encrypted currencies.” RBC investments.

While some companies see this transformation, others remain skeptical. Igor Danlinko, head of asset management at Hayaisance Capital, refused to encrypt as a viable assets: “There are many ways to protect yourself from inflation without resorting to symbols without any real guarantees, which depend on the flow of new buyers and is very similar to the Pyramid scheme in the article.”