Russia to Establish Experimental Crypto Exchange for 'Highly Qualified Investors': Report

The Central Bank of Russia and the country's Finance Ministry are planning to launch an experimental crypto exchange in the coming days. The step is part of Russia's roadmap of gradually legalising cryptocurrencies. Finance Minister Anton Siluanov was addressing a ministry meeting this week, when he shed light on the plans, according to reports from local media. The development follows Russia's support for the creation of a blockchain-based payments platform to be used exclusively by members of the BRICS group.

Due to the volatility and risks associated with cryptocurrencies, the Central Bank of Russia proposed the testing crypto activities under an experimental legal regime (ELR). Earlier in March, it said it would conduct these crypto transaction trials with “highly qualified investors”.

Investors with portfolios worth at least RUB 100 million (roughly Rs. 10 crore) will be considered as suitable to test the crypto exchange. Individuals whose income exceeded RUB 50 million (roughly Rs. 5 crore) will also be considered as qualified investors, according to an Interfax report.

Qualified investors will be allowed to invest in settlement-based securities, derivative financial instruments, and digital financial assets via the upcoming platform. These investments will reportedly exclude cryptocurrency delivery to investors but link returns to its value.

The experiment is said to be at least six months away from being launched.

Commenting on the development, Bitget COO Vugar Usi Zade told Gadgets 360 that Russia's move could signify a shift towards greater institutional involvement and the legitimisation of digital assets in international trade.

“By limiting participation to ‘super-qualified' entities likely institutional players and state-affiliated firms, the Kremlin is creating a controlled sandbox. This mirrors Singapore's early licensed exchange model but with a distinctly geopolitical twist: facilitating trade with BRICS allies amid sanctions,” Zade said. “As geopolitical dynamics evolve, such developments warrant close attention from investors and policymakers alike.”

The crypto sector currently lacks comprehensive regulations in Russia. The Central Bank of Russia does not recognise crypto assets as a mode of payment, but citizens are permitted to purchase, hold, and trade crypto.

In recent years, Russia has prioritised discussions about crypto on official levels. In February this year, for instance, Russia's Energy Ministry started discussions on mandating registrations for firms providing crypto mining equipment. The country has also been using Bitcoin to facilitate foreign trade.