Key Takeaways
- Russia will launch a Bitcoin exchange for 'super-qualified' investors only.
- Investors must meet income or asset thresholds of over $600,000 or $1.2 million.
- The initiative is part of a three-year experimental legal regime.
Russia’s central bank and finance ministry are collaborating on a new Bitcoin exchange aimed at high-net-worth individuals, marking a major step in the country’s experimental crypto framework.
Strict qualification requirements
Finance Minister Anton Siluanov announced the plan during an April 23 ministry meeting, explaining that the platform will be restricted to…
… super-qualified investors.
He said the goal is to bring Bitcoin operations “out of the shadows,” but emphasized that the exchange will not operate within Russia’s domestic financial system, instead falling under a separate legal regime.
The initiative follows a March 12 proposal from the central bank outlining a three-year experimental regime.
Under the plan, only a select group of Russian investors will be permitted to trade Bitcoin.
To qualify, individuals must have assets exceeding 100 million rubles ($1.2 million) or an annual income above 50 million rubles ($602,000).
Osman Kabaloev, deputy director at the Finance Ministry, noted the final criteria of the thresholds may still be adjusted, stating:
There will be a wide range of discussions.
Russia’s evolving crypto landscape
Russia has banned Bitcoin payments since 2021, but recent developments indicate a shift toward selective adoption.
Finance officials have even suggested creating a state-backed stablecoin, especially in light of U.S. sanctions targeting Russian-linked wallets and platforms like Garantex.
Additional crypto legislation in progress
Separately, lawmakers are also advancing legislation to define Bitcoin as property in criminal cases, and proposals for a crypto fund using seized assets are under discussion.
