Russian Crypto Trading Advances Toward Regulatory Frameworks and Institutional Adoption

Russian Crypto Trading Is Moving Towards Regulatory Frameworks, Establishing An Experimental Legal Regime (EPR) For “Super-qualified” Investors.

Key Takeaways: – The Ministry of Finance and the Central Bank of Russia are working on an EPR for cryptocurrency trading in the country, allowing only “super-qualified” investors to participate. – Russia has authorized crypto use for international economic activities within a special framework, but domestic crypto payments are still prohibited.

As reported by Forbes Russia, the Russian Ministry of Finance and the Central Bank are actively discussing the introduction of Russian crypto trading through an Experimental Legal Regime (EPR).

Alexey Yakovlev, Director of the Financial Policy Department at the Finance Ministry, stated that the goal of this initiative is to facilitate trading for “super-qualified” investors. However, the precise criteria for determining this classification are still under development.

During a forum for leaders in the asset management sector hosted by Expert RA, Yakovlev emphasized that digital currency trading is not merely a proposal but a task being actively pursued.

“We hope that it will be implemented in the near future – most likely in the format of an experimental legal regime,” he stated.

The “super-qualified” group is expected to include not only banks but also professional market participants and certain individuals who meet strict financial criteria.

Currently, the financial qualification for being considered a qualified investor in Russia is set at 12 million rubles, which is expected to increase to 24 million rubles by January 1, 2026.

Yakovlev emphasized that the success of this initiative depends on three crucial factors: the establishment of an experimental legal regime, the selection of highly qualified investors, and the management of related risks. Discussions among the Finance Ministry, the Central Bank, and market stakeholders are still in the early phase, focusing on ensuring security and protecting investors’ rights.

This initiative is part of a broader shifts in the regulatory landscape of cryptocurrency trading in Russia. Since September 1, 2024, the Central Bank has initiated an experiment that allows participants in foreign economic activities to settle payments using cryptocurrency, operating under a specific legislative framework.

The initiative enables the Central Bank to set trading regulations and create a cryptocurrency settlement operator based on the National Payment System. However, the use of digital currencies for transactions within the country is still prohibited.

The movement towards Russian crypto trading follows recent statements by Finance Minister Anton Siluanov, indicating that Russian companies are using Bitcoin and other cryptocurrencies for international transactions.

Last year, a law signed by President Vladimir Putin legalized the ownership and mining of cryptocurrencies while continuing to impose restrictions on their domestic use.

Russia’s pivot towards digital currencies is a reaction to the Western sanctions that were imposed after its invasion of Ukraine. These sanctions excluded Russian banks from accessing the SWIFT international payment system, significantly hindering their ability to conduct cross-border transactions.

As a result, Russia has been investigating alternative payment solutions, such as cryptocurrencies, to navigate around these financial restrictions.

President Putin has accused the United States of using the dollar as a weapon, suggesting that adopting cryptocurrency could provide a way to evade Western financial controls. However, this approach has ignited discussions, as it challenges the fundamental decentralized principles that underpin Bitcoin and other digital currencies.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.