Russian Central Bank to Launch Crypto Exchange for “Super-Qualified Investors”

Thursday, 24/04/2025 | 06:13 GMT by Arnab Shome

Individuals with either a minimum of 100 million rubles in assets or an annual income of 50 million rubles may qualify as “super-qualified investors.”

Previously, the regulator proposed allowing crypto trading for a limited number of investors under a three-year experimental regime.

The iconic Red Square at Moscow, Russia (shutterstock) — The iconic Red Square at Moscow, Russia

The Russian Central Bank and the Finance Ministry have teamed up to launch a local cryptocurrency exchange aimed exclusively at the country’s “super-qualified investors.” As reported by local news outlet RBC, the exchange will operate under an experimental legal framework.

Russian Finance Minister, Anton Siluanov

“Together with the central bank, we will launch a crypto exchange for super-qualified investors,” Finance Minister Anton Siluanov said (translated from Russian) during a ministry meeting, according to local news agency Interfax. “Crypto assets will be legalised, and crypto operations will be brought out of the shadows.”

“Naturally, this will not occur domestically, but as part of the operations permitted under the experimental legal regime.”

Only “Super-Qualified Investors” Allowed

The Deputy Director of Russia’s Financial Policy Department, Osman Kabaloev, explained that the criteria for “super-qualified investors” may include individuals with either a minimum of 100 million rubles (US$1.2 million) in assets or an annual income of 50 million rubles (US$602,000).

However, Kabaloev clarified that these criteria have not yet been finalised, noting that they were initially introduced during early-stage discussions last year.

“Perhaps it will be in this format, or these indicators may be adjusted in one direction or another – this is possible. I believe there will be a wide range of discussions,” Kabaloev added.

The initiative to launch a crypto exchange follows the central bank’s proposal last month to allow a limited number of local investors to buy and sell cryptocurrencies under a three-year experimental regime.

The regulator also proposed banning cryptocurrency transactions between Russian residents outside the experimental framework. Qualified investors may still invest in securities, derivatives, and digital financial assets linked to cryptocurrency prices, provided the investments do not involve the direct transfer of digital assets.

Russia Edges Towards Crypto Acceptance

Russia has a complex relationship with cryptocurrencies. While using Bitcoin and other cryptocurrencies for payments is effectively banned, Siluanov previously revealed that Russian companies are bypassing Western sanctions by using cryptocurrencies, including Bitcoin, to settle international trade.

President Vladimir Putin has also commented on Bitcoin’s durability, stating that no government can effectively ban it. Meanwhile, a Russian lawmaker has proposed adding Bitcoin to the country’s reserves to reduce geopolitical risks.

“Naturally, this will not occur domestically, but as part of the operations permitted under the experimental legal regime.”

Only “Super-Qualified Investors” Allowed

However, Kabaloev clarified that these criteria have not yet been finalised, noting that they were initially introduced during early-stage discussions last year.

“Perhaps it will be in this format, or these indicators may be adjusted in one direction or another – this is possible. I believe there will be a wide range of discussions,” Kabaloev added.