Catenaa, Thursday, April 24, 2025-Russia Central Bank and Finance Ministry will launch a state-sanctioned cryptocurrency exchange for “highly qualified investors,” signaling a major shift in the country’s approach to digital assets, local news agency Interfax reported Wednesday.
The exchange will operate under an experimental legal regime designed to increase transparency and set industry standards, Russian officials said.
Finance Minister Anton Siluanov said the move will “bring crypto operations out of the shadows,” though activity will remain restricted to authorized zones, not the domestic financial system.
Eligibility will be limited to individuals holding over 100 million rubles ($1.2 million) in securities and deposits, or with annual incomes above 50 million rubles ($600,000), according to the Central Bank’s proposal submitted in March.
The initiative marks a dramatic pivot from President Vladimir Putin’s 2022 ban on crypto payments, and comes amid increasing interest in using crypto to circumvent sanctions.
In recent months, reports surfaced of Russian oil companies using bitcoin and ether to settle trades with China and India.
In February, the European Union imposed sanctions on Russia-based Garantex, a crypto exchange already targeted by US sanctions since 2022.
However, Russian officials have maintained that sanctions will not deter the country’s access to global crypto markets.
Authorities described the experimental legal regime as a tool to attract sophisticated investors with higher risk tolerance and broaden financial innovation, even as the broader population remains restricted from such trading.
