Russia reportedly eyes controlled crypto trading for wealthy investors

Russia’s Ministry of Finance and the Central Bank are reportedly working on a controlled crypto trading framework for select high-net-worth investors.

On March 5, local media outlet Interfax reported that officials were exploring an experimental project allowing specific entities to engage in digital asset trading under a structured legal environment.

Aleksey Yakovlev, head of the Ministry of Finance’s financial policy department, stated that the initiative targets “super-qualified” investors. This category includes corporations and individuals with assets exceeding 24 million rubles ($250,000).

Although the plan is still in development, authorities aim to introduce regulations that ensure secure crypto trading within the country. Yakovlev hinted at the likelihood of implementing the project through an experimental legal regime, as Russia currently lacks comprehensive legislation for crypto trading.

According to him:

“We hope that it will be implemented in the near future, most likely in the format of an experimental legal regime. We are discussing this issue, I cannot say specific modalities yet, but the most important thing is that the issue is being addressed, the issue is moving forward.”

Yakovlev also highlighted the need to mitigate risks and protect investors before expanding digital asset adoption. He noted that integrating cryptocurrencies into the broader financial system requires extensive regulatory oversight, a process that Russian authorities are actively addressing.

Meanwhile, this initiative aligns with Russia’s broader efforts to regulate the crypto industry. In 2024, the government approved a proposal allowing traditional stock exchanges to facilitate digital asset trading for selected investors.

Additionally, Russia has strengthened its crypto regulatory framework. Last year, the government introduced a taxation system for digital assets like Bitcoin, imposing tax rates ranging from 13% to 15%, depending on the entities’ income.