Russia explores launching local cryptocurrency trading under experimental legal framework

Odaily News The Russian Ministry of Finance and the Central Bank are discussing the launch of local cryptocurrency transactions under an experimental legal framework, which will be limited to "super-qualified" investors. The specific standards for this category are still being formulated. Officials from the Ministry of Finance said that if an agreement is reached on the experimental system, investor qualification standards and risk control, a formal plan may be submitted to the government. Discussions are still ongoing between the Ministry of Finance, the Central Bank and market participants. Previously, Putin signed a law in August 2024 to allow cross-border payments and cryptocurrency transactions under an experimental legal framework from September 2024, with the supervision of the central bank. (TASS)