Russia Aims to Initiate Crypto Exchange Within Innovative Legal Structure

The Finance Ministry of Russia, alongside its central bank, is gearing up to introduce a crypto asset exchange aimed solely at “super-qualified investors,” as reported by Russian media platforms RBC and Interfax on April 23, 2025.

Anton Siluanov, the Finance Minister, revealed that the goal of this initiative is to legitimize crypto assets and transition digital asset transactions into a regulated setting.

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Russia’s Crypto Exchange to Function Under Unique Experimental Legal Framework

Siluanov further explained that the trading protocol would function within a unique experimental legal framework, distinct from Russia’s conventional financial system.

“In partnership with the central bank, we will establish a crypto trading platform for super-qualified investors. Crypto activities will be pulled out of obscurity,” Siluanov asserted.

This initiative comes on the heels of the central bank’s suggestion on March 12 to permit select investors to trade in cryptocurrencies, including Bitcoin, under a controlled three-year pilot scheme.

The proposal introduces a new classification of investors—super-qualified investors—characterized by substantial wealth or income levels. Preliminary guidelines indicate that participants need to possess assets exceeding 100 million rubles ($1.2 million) or have an annual income of at least 50 million rubles ($602,000).

Osman Kabaloev, the deputy director of the Finance Ministry’s financial policy department, pointed out that these thresholds are subject to ongoing evaluation. “Extensive discussions on adjusting these metrics are anticipated,” Kabaloev remarked.

Although Russia prohibited the use of cryptocurrencies as payment in 2021 under the “On Digital Financial Assets” legislation, the government has been investigating methods to incorporate crypto within its financial landscape, especially in the face of escalating international sanctions and economic challenges.

BREAKING:

RUSSIA WILL LAUNCH A BTC
AND CRYPTO EXCHANGE FOR SUPER
QUALIFIED INVESTORS. pic.twitter.com/Yd4bAG9nTy

— Ash Crypto (@Ashcryptoreal) April 23, 2025

Recently, Kabaloev proposed that Russia create its own stablecoin, following U.S. sanctions that resulted in the freezing of wallets related to Russian crypto trading network Garantex and stablecoin provider Tether.

Moreover, there have been discussions regarding the establishment of a state-operated crypto fund utilizing assets seized from criminal cases, along with legislative efforts to officially recognize crypto as property in judicial settings.

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Russia Considers National Stablecoin

Last week, a high-ranking finance official in Russia advocated for the development of a national stablecoin in response to the U.S. government’s frozen wallets connected to the sanctioned crypto exchange Garantex.

Osman Kabaloev, deputy director of the Financial Policy Department at the Finance Ministry, emphasized that recent developments underscore the necessity for domestic alternatives to well-known stablecoins like USDT.

He suggested that Russia should look into creating a stablecoin linked to an alternative currency—potentially the ruble. This would mitigate vulnerability to external pressures.

The initiative for a Russian stablecoin comes in the wake of an increasing buyer interest for stablecoins globally. A joint report by Artemis and Dune revealed that active stablecoin wallets surged by over 50% year-on-year, with total crypto market capitalization exceeding $200 billion at the beginning of 2025.

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The article Russia Plans To Launch Crypto Exchange Under Experimental Legal Framework first appeared on 99Bitcoins.