Russia Plans Regulated Crypto Exchange for the Ultra-Wealthy

Russia is preparing to take a cautious but significant leap into the digital asset space. The country’s finance ministry, in coordination with the central bank, has announced plans to launch a government-regulated crypto exchange, but access will be strictly limited to a select class of “super-qualified investors.” 

Finance Minister Anton Siluanov confirmed the move during a recent government meeting, emphasizing that the goal is to bring crypto “out of the shadows” while maintaining regulatory control.

Crypto to Come Out of the Shadows

This initiative will function within Russia’s newly proposed experimental legal regime, effectively ring-fencing the platform from domestic retail investors and the broader public. 

Under current drafts, the exchange will not operate in the open domestic market but will be permitted under specific exemptions designed for highly vetted participants.

The criteria for becoming a super-qualified investor are steep: individuals must either hold over 100 million rubles (approximately $1.2 million) in assets or report an annual income exceeding 50 million rubles ($602,000). However, officials clarified that these requirements are still under review and subject to change as discussions progress.

International Sanctions and Domestic Challenges

Russia’s pivot toward legitimizing certain crypto activities comes amid growing international scrutiny and sanctions. The country has been navigating a complex crypto landscape ever since implementing its first digital assets law in 2021, which banned cryptocurrencies like Bitcoin for payments but left room for experimentation elsewhere.

Recent events may have accelerated Russia’s interest in homegrown crypto infrastructure. After the U.S. Treasury and Tether froze wallets linked to the sanctioned exchange Garantex, Russian officials have grown increasingly vocal about developing sovereign alternatives. Calls for a national stablecoin have grown louder, and proposals are on the table to use confiscated crypto assets from criminal cases to establish a government-backed crypto fund.

In parallel, Russian lawmakers are working to formally recognize digital assets as property within criminal proceedings—another move that signals a slow but steady shift toward crypto normalization.

While retail investors remain locked out for now, the proposed exchange signals a fundamental shift in Russia’s approach to digital assets—one that walks the tightrope between control and innovation.