RUSSIA TO LAUNCH GOVERNMENT-BACKED CRYPTO EXCHANGE FOR "SUPER-QUALIFIED INVESTORS"

- Russia's Ministry of Finance, in collaboration with the Central Bank, is set to launch a government-backed cryptocurrency exchange, according to a local news publication.

- This initiative, confirmed by Finance Minister Anton Siluanov, will be conducted under the country's Experimental Legal Regime (ELR), a legal framework allowing financial innovations to be tested under regulatory oversight.

- The new platform will operate outside Russia's traditional financial system and will focus on legalizing crypto operations.

“Together with the Central Bank, we will launch a crypto exchange for super-qualified investors,” Siluanov explained. “Crypto assets will be legalized, and operations will be brought out of the shadows.”

STRICT ELIGIBILITY REQUIREMENTS

- Access is limited to “super-qualified investors” with over 100M rubles ($1.2M) in assets or 50M rubles ($600K) annual income.

- The goal is to restrict participation to those who can manage crypto’s risks.

- Officials say these rules are provisional and may change after further review.

- Retail investors will likely gain indirect exposure through regulated derivatives, rather than direct trading.

A STRATEGIC MOVE AMID SANCTIONS

- Per reports, as Russian entities face growing restrictions, digital assets are seen as a potential tool to bypass financial limitations, such as tariffs and global sanctions.

- The exchange is expected to roll out under the ELR within the next six months.

- While the full regulatory framework is still being developed, the platform's operation will remain within a highly controlled legal sandbox.

- Russia’s Central Bank has made it clear that crypto can’t be used for domestic payments in Russia—violators face sanctions.

- Russia may launch a ruble-pegged stablecoin and a crypto fund from seized assets. However, plans are still under review.