Russia lays the groundwork for a state-controlled cryptocurrency exchange
This regulatory shift follows a broader effort to integrate digital assets into the Russian legal framework. In April, the Ministry of Finance and the central bank began laying the groundwork for a state cryptocurrency exchange. Finance Minister Anton Siluanov stated that the exchange will help legitimize cryptocurrencies and direct digital transactions into a controlled environment.
The new platform, which operates under Russia's experimental legal regime for financial innovations, will only serve 'super qualified' investors. It will not support retail trading but will allow vetted market participants to trade cryptocurrencies under strict supervision.
Russia's efforts to create a domestic crypto infrastructure follow recent disruptions. In March, the freezing of stablecoin wallets tied to Russian users revealed vulnerabilities associated with tokens issued abroad. In response, officials proposed the development of a national stablecoin aimed at enhancing financial independence and ensuring sustained access to digital payments.
