Russia is getting ready to launch a government-backed crypto exchange—but only for the very wealthy.
The Finance Ministry and the Central Bank are teaming up to roll out the platform under a special “experimental legal regime.” It was confirmed this week by Finance Minister Anton Siluanov during a ministry meeting. He said the goal is simple: bring crypto out of the shadows and into a legal framework.
But this isn’t for everyday investors. Access will be limited to “super-qualified investors.” To qualify, individuals must have more than 100 million rubles which is equal to about $1.2 million in assets or earn at least 50 million rubles or $600,000 a year.
That definition isn’t final. Officials say the numbers could change as the discussions continue.
The Central Bank first floated the idea in March. It proposed a three-year test program that allows this small group to trade crypto like Bitcoin. Not in the local market, though. The trades will happen under the new legal regime, separate from Russia’s main financial system.
This move marks a shift. Russia banned crypto as a form of payment in 2021. But since then, it’s been exploring ways to use crypto for other purposes—especially after facing global sanctions.
In recent weeks, officials have pushed for more control over digital assets. One proposal suggested creating a Russian stablecoin. Another called for a national crypto fund using assets seized in criminal cases.
The government is also working on legislation to treat crypto as property in criminal law. That could make it easier to confiscate or manage these assets.
Right now, most Russians trade crypto through foreign platforms. That puts them at risk. With a local, state-run option, the government could reduce that reliance and keep more control.
There’s also talk of allowing wealthy investors to access crypto-linked financial products. These would track crypto prices but wouldn’t involve owning the actual coins.
The plan won’t open the crypto market to the public anytime soon. But it does show a change in thinking. Russia wants to test crypto use—carefully, and with tight controls.
For now, the message is clear: if you’re rich, and the government approves, you may soon be able to trade crypto legally in Russia.
