As global sanctions continue to isolate Russia from traditional financial networks, the country’s top financial bodies — the Central Bank and the Ministry of Finance — are preparing to launch a government-backed cryptocurrency exchange.
The platform, however, won’t be open to the general public. Instead, it targets only Russia’s wealthiest individuals.
The initiative marks a potential shift in Russia’s stance on digital assets, after banning crypto for payments in 2021. Finance Minister Anton Siluanov revealed the early details during a recent government meeting, signaling renewed interest in integrating crypto into the nation’s tightly controlled financial ecosystem.
If launched, the new exchange will cater to individuals meeting strict financial criteria. According to preliminary information, participants must either:
These thresholds firmly limit access to Russia’s upper class, reflecting a cautious approach to reintroducing crypto under state supervision while still enforcing tight controls.
Although this move appears to signal a soft re-entry of crypto into Russia’s financial framework, full legal clarity remains elusive. There’s no confirmation yet on whether crypto payments will be legalized alongside trading. The government seems more focused on offering controlled trading options, potentially as a workaround to sanctions — while avoiding broader retail crypto adoption.
With nothing finalized, the initiative remains in its planning phase. But if implemented, it could reshape how Russia’s elite access international markets, all while navigating around the economic wall imposed by Western sanctions.
Donald Trump’s memecoin project has seen a noticeable shift in activity following his announcement of exclusive rewards for major tokenholders, including a private dinner and a possible White House tour.
Semler Scientific has quietly built up a sizable Bitcoin position, acquiring 111 BTC between mid-February and late April for a total of $10 million.
Momentum is building around Solana (SOL), with some market watchers suggesting it could soon surpass Ethereum (ETH) in performance if the crypto market heats up again.
Arkansas City has officially canceled its planned crypto mining project following intense opposition from residents and key stakeholders.
Your Email address will not be published.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
News and analysis about cryptocurrencies and blockchain – Altcoins, Bitcoin, FinTech, Regulations, NFT and everything from the world of cryptocurrencies.
By using the site, you agree that we use cookies to improve your experience, personalize content and ads, and analyze traffic. See our disclaimer and privacy statement.
Russia Eyes a High-End Crypto Trading Platform for Wealthy Investors – Cryptodnes.bg
