Russia Launches Cryptocurrency Exchange for High-Net-Worth Investors

The Russian Ministry of Finance and Central Bank are preparing to launch a specialized cryptocurrency exchange designed for high net worth investors. This initiative, part of a trial legal regime aimed at compliance, will require participants to have assets exceeding 120 million rubles or annual incomes above 50 million rubles. The goal is to regulate crypto trading, increase market transparency, and facilitate foreign trade settlements through this platform, but it won’t be applicable for domestic transactions. This pilot program of these transactions is scheduled to begin in six months.