Russia Central Bank to launch crypto exchange for “qualified investors” - Official report
|- Russia's Central Bank and Finance Ministry to launch a crypto exchange under Experimental Legal Regime (ELR).
- Only individuals with high income or large securities holdings will be accredited.
- The proposed Crypto exchange aims to legalize crypto use without lifting domestic payment bans.
Russia is launching a government-backed crypto exchange for high-networth investors, marking a major step towards legalizing cryptocurrencies trading.
Russia’s Finance Ministry and Central Bank to pilot state crypto exchange under ELR
Russia’s Ministry of Finance and Central Bank will jointly establish a cryptocurrency exchange under the nation’s Experimental Legal Regime (ELR), Finance Minister Anton Siluanov confirmed Wednesday.
According to official reports, the proposed cryptocurrencies trading platform will be limited to "highly qualified investors" with an aim to test-run a formal legal framework without completely lifting the domestic ban on crypto payments.
“This will legalize crypto assets and bring crypto operations out of the shadows,” Siluanov said.
While the exchange will not operate for retail investors, it represents a key step toward crypto regulation in Russia, long constrained by geopolitical sanctions and legal uncertainty. The pilot will proceed under the ELR, which allows designated participants to test digital financial tools in a tightly controlled regulatory environment.
High eligibility criteria limits access to whale investors
The Russian Central Bank has proposed eligibility rules requiring investors to hold over 100 million rubles ($1.2 million) in assets or earn at least 50 million rubles ($600,000) annually. The move is intended to ensure only sophisticated investors with high risk tolerance gain access to crypto trading under the new regime.
Deputy Finance Minister Ivan Chebeskov suggested the new exchange could run through existing infrastructure or licensed newcomers, but its launch is still several months away. Meanwhile, the Central Bank continues to ban crypto as a legal means of payment, proposing penalties for domestic transactions conducted outside the sandbox. However, it also endorsed the idea of linking investment returns to crypto value through non-deliverable derivatives and other financial instruments.
Officials say ongoing debates with lawmakers and regulators will shape the ELR’s final contours, including possible updates to the investor qualification criteria.
What’s next?
The crypto exchange pilot is not expected to begin for at least six months. Regulators are finalizing eligibility rules and licensing requirements. Russia’s move may signal broader crypto adoption in sanctioned economies, but strict access controls suggest cautious, state-managed exposure to digital assets.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.