Emre Yumlu 
Russia is preparing to launch a new cryptocurrency exchange platform that will cater exclusively to a select group of high-net-worth individuals. The initiative, led by the Russian Ministry of Finance in cooperation with the Central Bank, will operate under a special three-year experimental legal framework.
Access Reserved for “Super-Qualified” Investors Only
Russian Finance Minister Anton Siluanov revealed the details during an official meeting on April 23. According to Siluanov, the new crypto exchange will be accessible only to “super-qualified” investors, aiming to shift crypto operations into a more transparent and regulated environment.
“Together with the Central Bank, we are setting up a crypto platform tailored for super-qualified investors. Crypto assets will gain legal recognition, and their transactions will move out of the shadows,” Siluanov stated.
The exchange, however, will not operate within the domestic financial system but will instead be part of the experimental regime’s designated legal boundaries.
Wealth Threshold Over $1.2 Million
Earlier in March, the Bank of Russia proposed criteria for identifying eligible investors under this scheme. To qualify, individuals must hold assets worth over 100 million rubles (approximately $1.2 million) or earn a minimum annual income of 50 million rubles (around $602,000).
Still, these qualifications are not final. Osman Kabaloev, Deputy Director of the Finance Ministry’s Financial Policy Department, noted that the parameters are subject to further discussion and could change:
“These figures might be revised depending on ongoing evaluations. A wide public and institutional dialogue will help shape the final framework,” he said.
Crypto Use Remains Restricted, Yet Innovation Continues
Despite banning the use of cryptocurrencies such as Bitcoin for payments under its first crypto law enacted in January 2021, Russia continues exploring new ways to integrate digital assets into its financial ecosystem.
On April 16, Kabaloev emphasized the need for Russia to develop its own stablecoin, following the freezing of wallets associated with the sanctioned Garantex exchange and stablecoin issuer Tether.
Government-Backed Crypto Fund and Legal Reforms in Sight
In a related development, Evgeny Masharov, a member of Russia’s Civic Chamber, suggested establishing a state-run crypto fund. This fund would consolidate crypto assets seized during criminal investigations.
Simultaneously, Russian lawmakers are also working on recognizing cryptocurrencies as legal property for use in criminal justice processes—another sign that the country’s digital finance landscape is undergoing significant change.
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