Russia will launch a cryptocurrency exchange exclusively for 'super-qualified investors'

The Ministry of Finance and the Central Bank of Russia have announced plans to establish a cryptocurrency exchange designed exclusively for a select group of investors, termed 'super-qualified'. This project is part of an experimental legal regime aimed at formalizing cryptocurrency operations and bringing them out of the shadows, according to RBC News.

The concept of 'super-qualified investors' refers to individuals who meet strict wealth and income requirements. According to initial proposals, this status could be granted to individuals with at least ₽100 million in securities or deposits (approximately $1.2 million) or with annual incomes exceeding ₽50 million ($600,000). However, authorities have indicated that these criteria are still subject to adjustments.

The initiative also includes the possibility of trading derivatives linked to cryptocurrencies, and several financial institutions, such as the Moscow Exchange and the St. Petersburg Exchange, have already expressed interest in participating. These platforms plan to offer products related to the value of cryptocurrencies, expanding investment opportunities for this exclusive group of participants.

The main objective of this project is to improve the transparency of the cryptocurrency market in Russia and establish clear standards for the provision of services in this sector. While some experts see this measure as a transformative step, others remain skeptical, arguing that cryptocurrencies still lack real backing and may not be a viable asset class in the long term.

This move marks a significant shift in Russia's stance towards cryptocurrencies, especially after the country banned payments with digital assets in 2022. Now, with this experimental approach, Russia seems to be exploring ways to integrate cryptocurrencies into its financial system in a controlled and regulated manner.