The Central Bank of Russia and the Ministry of Finance are working on launching a cryptocurrency exchange that will be accessible only to high-net-worth individuals.
Finance Minister Anton Siluanov stated that the initiative aims to bring “shadow market” activities under regulation and will be established under an Experimental Legal Regime (ELR), operating outside of Russian territory.
According to the draft, eligible investors must either hold at least 100 million rubles (approximately $1.2 million) in bank and securities accounts or have earned over 50 million rubles (around $600,000) in income during the previous year.
Officials explained that this move is intended to improve market transparency and ensure sustainable crypto use despite international sanctions. The development signals a more pragmatic shift in Russia’s approach to digital assets following its 2022 ban on crypto payments.
