The Russian Minister of Finance made an important statement about Cryptocurrencies! The Central Bank is taking a Crypto step.

Russian Finance Minister Anton Siluanov announced that the Ministry of Finance and the Central Bank of Russia will jointly establish a cryptocurrency exchange specifically for "super qualified investors" as a step towards legitimizing cryptocurrencies within a tightly regulated framework.

The initiative aims to legalize certain crypto transactions and bring transparency to a segment of the market that is generally seen as opaque.

A platform that could be based on a newly established system or an existing exchange is designed to operate under Russia's experimental legal regime (ELR).

The current regulations allow for two potential paths: to create a new exchange from scratch or to equip existing platforms with cryptocurrency trading capabilities. Whatever the method, the new exchange will be limited to a select group of elite investors.

The definition of "super qualified" investor is at the center of the proposal. The Central Bank had previously suggested that this status be granted to individuals with at least 1.2 million dollars in investments or an annual income exceeding 600 thousand dollars. However, Osman Kabaloev, Deputy Director of the Fiscal Policy Department of the Ministry of Finance, stated that these thresholds are still under discussion and may be revised.

Individual and lower-tier qualified investors will also not remain completely outside the crypto market. Although direct access to the proposed exchange will be restricted, others will be able to participate in the market through derivatives linked to cryptocurrency values. These products will not involve the actual distribution of digital assets but will reflect price movements.