Russia is taking steps to establish a national infrastructure for cryptocurrency operations, with the goal of facilitating the adoption of digital assets and addressing associated challenges. This move is part of a broader effort to develop a comprehensive framework for cryptocurrency transactions. *Key Points:* - *Joint Development:* The infrastructure is being developed in collaboration with the Bank of Russia, which has already allowed qualified investors to invest in crypto assets. - *Experimental Framework:* The proposed framework aims to enable the use of cryptocurrencies in previously unexplored areas, such as cross-border settlements. - *Reducing Dependence on International Firms:* Russia seeks to reduce its reliance on international cryptocurrency custody firms due to sanctions and potential risks. - *State-Controlled Infrastructure:* The infrastructure could become a key component of a national exchange, including miners, traders, and companies seeking to address international payment issues using cryptocurrency. *Rationale Behind the Move:* - *Growing Demand:* The Russian crypto market has seen significant growth, with citizens holding over $25 billion in digital wallets. - *Financial Independence:* By developing its own cryptocurrency infrastructure, Russia aims to enhance its financial sovereignty and reduce dependence on Western-dominated financial systems. - *Regulatory Clarity:* The proposed infrastructure could provide a clear regulatory framework for cryptocurrency operations, potentially attracting institutional investment and promoting economic growth ¹ ² ³. *Future Outlook:* - *Implementation:* The development of the infrastructure is expected to be completed soon, with market participants urging faster implementation. - *Regulatory Alignment:* The Bank of Russia and the Ministry of Finance are working together to ensure a comprehensive and well-regulated framework for cryptocurrency operations. - *Potential Impact:* The proposed infrastructure could position Russia as a leader in digital finance, potentiall