Odaily News The Russian Ministry of Finance and the Central Bank of Russia are discussing the launch of cryptocurrency trading in Russia within the experimental legal framework (EPR). Alexey Yakovlev, head of the Ministry of Finance’s Financial Policy Department, revealed this to reporters.
Transaction participants will fall into a category of “super-qualified” investors, for which criteria are still being developed.
“We are studying how to launch the domestic cryptocurrency trading market within an experimental legal framework. But this involves ‘super-qualified’ investors, an as-yet undefined category whose criteria we are determining,” Yakovlev said at the Asset Management Market Leaders Forum.
Yakovlev added that the Ministry of Finance hopes that this plan can be implemented in the near future. "There are three key factors: an experimental legal framework, super-qualified investors, and control of all risks. If all three factors are achieved, then we may come up with a plan and submit it to the government for consideration. At present, this is still at the discussion stage between the Ministry of Finance, the Central Bank and market participants."
In early August 2024, Russian President Vladimir Putin signed a law that allows cross-border payments and cryptocurrency transactions within an experimental legal framework from September 1, 2024. The central bank was designated as the authorized regulator in this area. (TASS-RU)