Odaily Planet Daily News The Russian Ministry of Finance and the Central Bank of Russia are discussing the launch of cryptocurrency trading in Russia within the experimental legal framework (EPR). Alexey Yakovlev, director of the Financial Policy Department of the Ministry of Finance, revealed the news to reporters.
Trading participants will belong to the category of "super qualified" investors, and the identification criteria for this category are still being formulated.
"We are studying how to launch the domestic cryptocurrency trading market within the experimental legal framework. But what is involved here is "super qualified" investors, which is an undefined category and we are determining its criteria." Yakovlev said at the venue of the Asset Management Market Leaders Forum.
Yakovlev added that the Ministry of Finance hopes that this plan can be implemented in the near future. "There are three key factors: an experimental legal framework, super-qualified investors, and control of all risks. If all three factors are achieved, then we may come up with a proposal and submit it to the government for consideration. At present, this is still a discussion stage between the Ministry of Finance, the Central Bank and market participants."
In early August 2024, Russian President Vladimir Putin signed a law that allows cross-border payments and cryptocurrency transactions within an experimental legal framework from September 1, 2024. The central bank was designated as the authorized regulator in this field. (TASS-RU)