Michaela
Russia’s Ministry of Finance and Central Bank of Russia have begun discussions on introducing crypto trading under an experimental legal regime (ELR), specifically targeting “super-qualified” investors as potential participants.
According to Russian news agency Interfax, Alexei Yakovlev, Director of the Financial Policy Department at the Ministry of Finance, stated that the criteria for qualified investors to participate in crypto trading are still in the development stage.
“When we talk about digital currency trading, it’s not just an idea – it’s a task that has been set. We hope it will be implemented soon, most likely in the format of an experimental legal regime. We are discussing this issue, but I can’t yet provide specific details,” Yakovlev said at the Asset Management Market Leaders Forum.
Yakovlev further clarified that the “super-qualified” investor category will primarily consist of professional market participants and individuals, rather than being limited to banks. He noted that those seeking to qualify will need to meet stringent requirements, aligned with existing qualification standards.
At present, qualified investors are required to meet a financial threshold of 12 million rubles. However, this requirement is set to double to 24 million rubles beginning January 1 of next year.
“If the experimental legal regime, the super-qualified investor category, and risk mitigation measures all align, then we may propose a specific initiative and present it to the government,” Yakovlev added. Currently, the Finance Ministry, in coordination with the Central Bank and industry stakeholders, is actively engaged in discussions on the framework’s implementation.
Additionally, the director noted that before moving forward, the Ministry of Finance and the Central Bank must first address critical issues related to feasibility and risk management, with a particular focus on security measures and client protection.
“Allowing digital currency into domestic circulation is a completely different matter that requires thorough and meticulous work, which we are currently conducting,” Yakovlev stated.
The ELR is designed to create a regulated setting where authorities can evaluate the potential risks and advantages of incorporating cryptocurrencies into the national financial system.
This initiative builds on earlier efforts by Russian authorities to establish a regulatory framework for cryptocurrencies. One notable development has been the introduction of the digital ruble, a state-backed alternative to decentralized digital assets, though its rollout has faced some uncertainty.
The government’s openness to regulated crypto trading within the country reflects a shift toward a more adaptable stance, recognizing its potential to drive financial innovation and expand economic opportunities.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
