Russia Launches Crypto Exchange for Elite Investors: How Big Is Their Market?
- New exchange targets investors with at least 100 million rubles in assets or high annual income.
- Part of a pilot program to regulate cross-border crypto use while banning domestic payments.
- It operates under joint oversight by Russia’s central bank and finance ministry.
Russia is preparing to establish a government-backed crypto exchange exclusively for wealthy investors.
The project, confirmed on April 23, will operate under an experimental legal framework (ELR), it aims to regulate cross-border digital transactions while maintaining the domestic crypto payment ban.
Who Gets Access? Strict Criteria Define “Qualified Investors”
Access will be limited to legally defined “highly qualified investors” under Russian law. This includes individuals with over 100 million rubles, approximately $1.2 million in investments or deposits, or an annual income above 50 million rubles (around $600,000).
Related: Sanctioned Russia turns to BTC, ETH & USDT for global oil trade with China, India
The exact criteria are still under discussion. Officials from the finance ministry and the central bank confirmed that definitions will be finalized with lawmakers’ involv…
The post Russia Launches Crypto Exchange for Elite Investors: How Big Is Their Market? appeared first on Coin Edition.
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Russia Plans Regulated Crypto Exchange for Elite Investors
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Russia Launches Crypto Exchange for Elite Investors: How Big Is Their Market?
- New exchange targets investors with at least 100 million rubles in assets or high annual income.
- Part of a pilot program to regulate cross-border crypto use while banning domestic payments.
- It operates under joint oversight by Russia’s central bank and finance ministry.
Russia is preparing to establish a government-backed crypto exchange exclusively for wealthy investors.
The project, confirmed on April 23, will operate under an experimental legal framework (ELR), it aims to regulate cross-border digital transactions while maintaining the domestic crypto payment ban.
Who Gets Access? Strict Criteria Define “Qualified Investors”
Access will be limited to legally defined “highly qualified investors” under Russian law. This includes individuals with over 100 million rubles, approximately $1.2 million in investments or deposits, or an annual income above 50 million rubles (around $600,000).
Related: Sanctioned Russia turns to BTC, ETH & USDT for global oil trade with China, India
The exact criteria are still under discussion. Officials from the finance ministry and the central bank confirmed that definitions will be finalized with lawmakers’ involv…
The post Russia Launches Crypto Exchange for Elite Investors: How Big Is Their Market? appeared first on Coin Edition.
Read More
Russia Plans Regulated Crypto Exchange for Elite Investors