The Russian Ministry of Finance may allow qualified investors to trade cryptocurrencies
Odaily Planet Daily News: The Russian Ministry of Finance and the Central Bank of Russia are discussing the initiation of domestic cryptocurrency trading within an experimental legal framework (ЭПР). This information was disclosed by Alexey Yakovlev, Director of the Financial Policy Department of the Ministry of Finance, to reporters.
Participants in the trading will belong to the "super-qualified" investor category, and the criteria for this category are still being developed.
"We are exploring how to launch a domestic cryptocurrency trading market within an experimental legal framework. However, this involves 'super-qualified' investors, a category that has not yet been defined, and we are determining its standards," Yakovlev stated at the Asset Management Market Leaders Forum.
Yakovlev added that the Ministry of Finance hopes this plan can be implemented soon. "There are three key factors: the experimental legal framework, super-qualified investors, and the control of all risks. If these three factors can be achieved, we may propose a plan and submit it for government review. Currently, this is still at the discussion stage between the Ministry of Finance, the Central Bank, and market participants."
In early August 2024, Russian President Vladimir Putin signed a law allowing cross-border payments and cryptocurrency trading within an experimental legal framework starting from September 1, 2024. The Central Bank has been designated as the authorized regulatory body in this field. (TASS-RU)
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