The Ministry of Finance of Russia and the Central Bank are expected to reveal an exchange of crypto for highly qualified investors, “the Interfax news agency reported on Wednesday.
The exchange “will legalize the cryptographic assets and will bring out the shadow cryptographic operations,” said finance minister Anton Solanov, at a meeting of the Ministry’s Council, according to the report.
“Naturally, this will not happen at the national level, but in the context of operations authorized by the experimental legal regime,” said Silianov.
The Central Bank of Russia proposed to allow cryptographic trade within a pilot known as the experimental legal regime (ELR) in March.
This would apply to highly qualified investors, a new category of investors for individuals whose investments exceed 100 million rubles (1.2 million dollars) or an annual income exceeding 50 million rubles ($ 600,000).
The absence of an exchange of centralized national crypto in Russia means that the Russians count on commercial platforms abroad to buy and sell cryptocurrencies, that the Ministry of Finance and the Central Bank can seek to counter.
The Central Bank has also proposed to allow highly qualified investors to access derivatives and securities linked to digital assets, which do not imply the delivery of crypto to the investor but draw yields according to its value.
