Russia is preparing to launch a government-backed cryptocurrency exchange that will operate under an experimental legal framework. This crypto exchange is limited to wealthy investors, as the government continues to explore digital financial tools while maintaining its domestic ban on crypto payments.
Russia New State-Backed Crypto Exchange
According to a local newspaper, the Ministry of Finance and the Central Bank of Russia are developing a new crypto exchange. The crypto exchange will fall under the country’s Experimental Legal Regime (ELR), where new financial instruments get trialled before being introduced widely. This move aims to align Russia with crypto as digital assets are recognized worldwide, and countries like the US are trying to become the world’s crypto capital.
Maria Anton Siluanov, the Russian Federation Minister of Finance, confirmed the work on the project during an official meeting. He said,
“We will work closely with the Central Bank to establish a crypto exchange for the qualified investors only.” Crypto assets will be legalized and enabling laws will be created for operations with crypto assets will be brought out of the shadows.”
The Central Bank submitted its formal proposal in March 2025. The project is part of a wider push by Russian authorities to legalize crypto operations for selected users while still enforcing restrictions on public use.
Access Limited to High-Net-Worth Individuals
The crypto exchange is only for ‘super qualified investors’. By the official definition, this category also comprises those who possess at least 100 million rubles ($1.2 million) of financial investments or earn more than 50 million rubles ($600 thousand) annually.
These criteria excludes any frivolous individuals and only allow those with adequate experience and financial resources. The Finance Ministry has said that the requirements are adjustable before the start of the plan. Deputy Minister Ivan Chebeskov also noted that the platform could use the existing infrastructure or newly established licensed companies.
At the same time, the Finance Ministry’s Osman Kabaloev mentioned that discussions on qualification criteria remain open.
“Perhaps it will be in this format, or those indicators will be in some way modified,” he said.
Purpose Behind the Crypto Exchange Launch
Russia’s move comes in response to tightening sanctions and growing restrictions on its access to global financial systems. Officials believe that digital assets can serve as alternative financial tools under international pressure, such as the Donald Trump tariffs seen recently.
Several Russian exchanges have faced international actions in recent months. Garantex, for example, had $28 million frozen by Tether after U.S. sanctions. Deribit also exited the Russian market following similar restrictions.
The launch of a state-backed crypto exchange will allow the government to oversee crypto transactions and enforce compliance within the sandbox environment. However, retail investors will participate only indirectly through regulated derivatives and not in direct crypto trading.
Legal Framework and Timeline
The Russian crypto exchange will roll out under the country’s ELR, which permits the testing of new tools under strict oversight. The platform may launch within the next six months, though not confirmed.
The government is still formulating the full set of rules and regulations, as well as regulations for issuing licenses and supervision. Regarding using crypto in domestic payments, the Central Bank takes a negative stance and sanctions those who violate such rules.
At the same time, the authorities also discuss the ruble-pegged stablecoin and a crypto investment fund based on the assets seized. These concepts are still pending as the legislature finds ways to address the use of digital assets in the country.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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