Russia’s Central Bank to Launch Crypto Exchange for ‘Super-Qualified’ Millionaires

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In the thrilling world of Russian finance, where the cold meets the crypto, Russia’s finance ministry and central bank have decided to launch a crypto exchange. Not just any exchange, mind you, but one designed specifically for those elite creatures known as “super-qualified investors.” Yes, you read that right—super-qualified investors, which is a category that could easily be confused with “superheroes who also own yachts.” According to reports from Russian media group RBC and news agency Interfax on April 23, Finance Minister Anton Siluanov made this revelation during an official meeting.

In his statement (translated from Russian, of course), Siluanov declared: “Together with the central bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadows.” As you can imagine, the shadows are getting rather cramped with all these illicit operations trying to squeeze in.

However, before you start imagining yourself as a “super-qualified investor,” let’s pause for a moment of reality. This crypto exchange won’t exactly be happening within Russia’s borders—oh no. It’ll be part of an experimental legal regime. Because, naturally, why do anything normally when you can experiment in the weirdest possible way? 🍸

It turns out that back in March, the Russian central bank announced plans to allow a select number of Russian investors with substantial assets (think Bitcoin billionaire levels) to buy and sell cryptos like Bitcoin (BTC) under a *three-year experimental* regime. Yes, you read that correctly—three years of experimental crypto goodness for only the wealthiest of the wealthy.

The new investor category, super-qualified investors, will be defined by wealth and income thresholds that make even the most audacious billionaire feel like a middle-class commuter. The criteria? A mere 100 million rubles (roughly $1.2 million), or an annual income of at least 50 million rubles (about $602,000). Chump change, really, if you’re used to throwing your money around in the most fashionable ways possible.

Super-Qualified Investor Definition: It’s All Still Very Much in the Air

Now, before you dust off your “super-qualified” cape, let’s take a closer look at the fine print. The deputy director of the Finance Ministry’s financial policy department, Osman Kabaloev, has confirmed that the definition of a super-qualified investor is still very much in flux. They were just “floated” in early discussions, which means there’s still plenty of room for adjustment. It’s like ordering a salad at a restaurant and realizing they could throw anything they want on there before it arrives. “Perhaps it will be in this format, or we’ll adjust it this way or that,” Kabaloev said. Flexibility is the name of the game!

For those of you who are just starting to feel a little envious of these super-rich crypto enthusiasts, it’s worth noting that Russia previously implemented a ban on using cryptocurrencies for payments under its first crypto law, “On Digital Financial Assets.” So, no buying your coffee with Bitcoin just yet. But with the government now shifting gears, we may soon see some interesting new legislation regarding the status of crypto as property. Maybe soon you’ll be able to buy a house with Dogecoin! 🏠

Meanwhile, other exciting developments are happening in the Russian crypto world. For example, on April 16, Kabaloev suggested that the Kremlin should create its own stablecoin—presumably something that would be harder to freeze than your average Russian hot summer day. And just in case you thought they weren’t being ambitious enough, Evgeny Masharov, a member of the Russian Civic Chamber, proposed creating a government-backed crypto fund filled with assets confiscated from criminal activities. So, really, it’s a party all around!

But wait, there’s more! At the same time, some officials were working on new legislation to recognize crypto as property for criminal procedure purposes. Because when it comes to criminal law and cryptocurrency, the fun never stops. 🎉

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2025-04-24 08:04