The Ministry of Finance of Russia and the Central Bank will present an exchange of cryptography by “highly qualified” investors “, the Interfax news agency said Wednesday.
The exchange “will legalize cryptographic assets and bring cryptographic operations of the shadows,” said Finance Minister Anton Siluanov, during a meeting of the Ministry Board, according to the report.
“Naturally, this will not happen nationwide, but as part of the operations allowed under the experimental legal regime,” said Siluanov.
The Central Bank of Russia proposed to allow cryptographic trade within a pilot known as the experimental legal regime (ELR) in March.
This would apply to highly qualified investors, a new category of investors for people whose investments exceed 100 million rubles ($ 1.2 million) or an annual income of more than 50 million rubles ($ 600,000).
The absence of an exchange of centralized domestic cryptocurrencies means that Russians depend on commercial platforms abroad to buy and sell cryptocurrencies, which the Ministry of Finance and the Central Bank may be seeking to counteract.
The Central Bank has also proposed to allow highly qualified investors to access derivatives and values linked to digital assets, which do not imply the delivery of crypto to the investor, but obtain returns according to their value.
