Ministry of Finance in Russia Launches “Experimental Cryptocurrency Initiative”

The Russian Finance Ministry is in talks with the Central Bank of Russia to allow a certain group of investors to trade cryptocurrencies under a controlled framework. According to TASS, the Director of the Financial Policy Department of the Ministry of Finance Alexey Yakovlev stated that these transactions will take place within the framework of the country’s Experimental Legal System (EPR).

Only individuals classified as “super-qualified investors” will be eligible to participate, Yakovlev explained during the Asset Management Market Leaders Forum. However, the criteria for this new category of investors are still being developed. “We are working on an experimental legal system to launch organized trading of digital currencies in Russia. This will be for super-qualified investors, a new category that has not yet been determined and that we are defining,” he said.

He also expressed optimism that the initiative could be implemented in the near future, provided three key conditions are met: establishment of the experimental system, identification of super-qualified investors, and implementation of comprehensive risk control measures. Once these conditions are met, the Ministry of Finance plans to submit a detailed proposal to the government for approval.

*This is not investment advice.