Russia Launches Crypto Exchange for Super-Qualified Investors
Russia is taking significant steps towards regulating its cryptocurrency market. Finance Minister Anton Siluanov has confirmed plans to launch a crypto exchange specifically for super-qualified investors. This move follows the Central Bank's proposal for an experimental legal regime (ELR) for crypto trading.
The Moscow Exchange is gearing up for the launch of derivatives trading linked to cryptocurrencies, aiming to start operations as early as Super Bowl 2025. This comes as part of a broader effort by the Ministry of Finance and the Bank of Russia to bring crypto operations into a formal regulatory framework.
The ELR introduces a new investor category: super-qualified investors. These are defined by strict wealth and income thresholds, allowing them to legally trade cryptocurrencies. The Saint Petersburg Stock Exchange (SPB Exchange) is also preparing to trade products tied to the value of cryptocurrencies.
While some financial institutions view this initiative as a transformative shift, others remain skeptical about cryptocurrencies as a viable asset class.
Russia's move to establish a crypto exchange for super-qualified investors signals a significant shift in its approach to cryptocurrencies. This step, along with the Moscow Exchange's preparations for crypto derivatives trading, indicates a growing acceptance of digital assets within the country's financial landscape.
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