Russia to Establish Crypto Exchange For ‘Super-Qualified Investors’

Russia's Ministry of Finance and Central Bank are preparing to launch a cryptocurrency exchange exclusively for "super-qualified investors" under an experimental legal regime (ELR).

This initiative aims to regulate digital asset transactions and bring crypto operations into a formal framework while maintaining domestic restrictions on crypto payments.

The purpose is to legalize crypto assets and shift transactions from informal markets to regulated channels, particularly for cross-border trade settlements. The exchange will not operate within Russia’s domestic financial system but under the ELR for approved crypto activities.

The eligibility criteria requires individuals to hold ₽100 million ($1.1–1.2 million) in securities/deposits or earn ₽50 million ($550,000–600,000) annually, though these thresholds remain under discussion and may be adjusted following input from lawmakers.

Direct crypto trading will be restricted to these high-net-worth participants, while retail investors can access crypto-linked derivatives through regulated platforms.

Domestic crypto payments remain banned, and transactions between residents conducted outside the ELR framework will face penalties, reinforcing strict controls on internal crypto use.

It is expected to launch in six months or later, utilizing existing exchange infrastructure or newly licensed platforms.

The ELR, active since September 2024, allows foreign trade participants to settle transactions in crypto but prohibits its use in Russia’s internal economy. This pilot reflects Russia’s broader strategy to mitigate sanctions risks by integrating crypto into international trade while maintaining strict domestic controls.

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