Bank of Russia to Launch Crypto Trading Under a Three-Year Experiment

The Bank of Russia plans to introduce cryptocurrency trading within the country under an experimental legal regime (ELR). 

Only a select group of investors will have access, according to an official statement from the central bank.

A Major Step for Russian Crypto Regulations

The central bank intends to establish a three-year experimental legal framework for crypto trading. 

This initiative will allow transactions within a controlled environment, operating under strict regulations. The goal is to test market operations while ensuring oversight and compliance.

However, access will be limited to a new category of “highly qualified” investors. 

To qualify, individuals must have invested at least 100 million rubles in securities or deposits or have earned over 50 million rubles in the past year.

Also, companies classified as qualified investors under existing regulations may also participate. Financial institutions seeking exposure to cryptocurrencies will be subject to specific regulatory requirements based on the associated risks associated. 

“The introduction of the ELR aims to increase transparency in the cryptocurrency market, establish service standards, and expand investment opportunities for experienced investors willing to take on higher risks. The Bank of Russia has repeatedly stated that private cryptocurrencies are not issued or backed by any jurisdiction, rely on mathematical algorithms, and are highly volatile. Therefore, investors must understand the risks of potential financial losses before investing in cryptocurrencies,” the Bank of Russia’s statement reads.

Russian businesses have previously pushed for qualified investors to be granted access to crypto trading.

Meanwhile, the primary objective of the ELR is to establish a secure and regulated cryptocurrency trading environment in Russia. Finance Minister Anton Siluanov previously outlined two approaches under discussion. 

This included legalizing exchanges outright or permitting them under an experimental framework. Authorities opted for the latter to evaluate market operations before expanding access.

Currently, Russians can buy and hold cryptocurrency, but using it for payments within the country remains prohibited. Due to the lack of a national exchange, citizens rely on foreign platforms. 

Crypto Investments Through Mutual Funds

Meanwhile, Andrey Bershadsky, CEO of asset management firm “Pervaya,” has proposed allowing exposure to cryptocurrencies through mutual funds. 

He suggested that professional asset managers could provide structured access to the market, reducing risks for investors.

“Providing market exposure through professional asset managers and collective investment instruments would be a major shift for our industry. New investors are entering this segment. However, they are forced to invest through platforms that are unregulated under Russian law and beyond the control of Russian regulators, Bershadsky stated. 

For now, only digital financial assets (DFA) will be included in certain types of mutual funds. The central bank has been working on the necessary regulatory changes since May last year.

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