Russian Finance Ministry Cryptocurrency Talks

The Russian Finance Ministry is negotiating with the Central Bank of Russia to permit select investors to trade cryptocurrencies within a regulated framework.

According to TASS, Alexey Yakovlev, the Director of the Financial Policy Department, announced that these transactions would occur under the country’s Experimental Legal System (EPR).

Only those classified as “super-qualified investors” will be able to participate. Yakovlev explained this during the Asset Management Market Leaders Forum, noting that the criteria for this new investor category are still in development.

> “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 stated.

Yakovlev also expressed optimism that the initiative could be realized soon, contingent on three key prerequisites: the establishment of the experimental system, identification of super-qualified investors, and the implementation of thorough risk control measures. Once these conditions are satisfied, the Finance Ministry aims to present a detailed proposal to the government for approval.

This is not investment advice.