Russia is launching a pilot cryptocurrency exchange specifically tailored for wealthy investors within six months, aiming to enhance market transparency and legality. The initiative, spearheaded by the Ministry of Finance and Central Bank, will only accept participants with assets exceeding 120 million rubles or annual incomes exceeding 50 million rubles. This limited program focuses on foreign trade settlements, aligning with Russia’s regulatory stance on cryptocurrencies for global transactions. The pilot aims to bring crypto operations out of the shadows, while remaining exempt from domestic use. The project is expected to be operational in Spring 2024 and will offer a unique platform for selected investors to participate.