Russia’s Finance Ministry plans to launch a cryptocurrency exchange for ‘super-qualified’ investors, aiming to regulate digital assets under an experimental legal framework. Investors must meet strict financial criteria to participate, with derivatives available for those who do not qualify. The exchange will operate outside the domestic financial system, with launch details yet to be confirmed.
Russia is set to establish a new cryptocurrency exchange aimed specifically at highly qualified investors, referred to as “super-qualified investors.” This initiative, announced by Finance Minister Anton Siluanov during an April 23 board meeting, is in collaboration with the Central Bank and falls under an experimental legal framework intended to regulate digital asset transactions more effectively.
The new exchange is part of Russia’s strategy to bring cryptocurrency operations into a regulated environment, although it will not be integrated into the domestic financial system. Instead, the platform will facilitate crypto transactions permitted under the Experimental Legal Regime (ELR), thus ensuring compliance with existing legal standards while providing a structured approach to digital assets.
While Russian legislation allows individuals to hold and buy cryptocurrencies, it forbids their use for domestic payments. Consequently, there is currently no established crypto exchange within Russia, with citizens often resorting to offshore platforms for trading activities.
To qualify for participation in this new exchange, investors must meet rigorous criteria. The Central Bank has proposed that “super-qualified” designation applies to individuals with investments exceeding ₽100 million (approximately $1.1 million) or an annual income above ₽50 million ($550,000). However, these thresholds are still up for discussion among officials.
Investors who do not qualify for the “super-qualified” status may still access cryptocurrency exposure through derivatives, which are financial instruments linked to the prices of crypto assets without actual asset delivery. These options are accessible to standard qualified investors, expanding the spectrum of participation.
Although the launch date remains unconfirmed, Deputy Finance Minister Ivan Chebeskov indicated in March that an introduction is likely several months away. The initiative highlights a shift towards cautious acceptance of cryptocurrencies by Russian regulators, despite the Central Bank’s ongoing opposition to their use as legal tender.
