Russia plans to create a platform for cryptocurrency exchange for high-net-worth investors

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According to PANews, the Russian Ministry of Finance and the Central Bank are set to establish a cryptocurrency exchange platform targeting high-net-worth investors. This initiative is part of an 'experimental legal framework' aimed at compliance. Participants must possess assets exceeding 120 million rubles or have an annual income exceeding 50 million rubles. This scheme seeks to legalize cryptocurrency trading and increase market transparency, but will be limited to foreign trade settlements and not applicable to domestic payments. The pilot phase for these transactions is expected to begin within six months. CryptoMarketCapBackTo$3T