Russian Finance Minister Makes Important Statement About Cryptocurrencies – Central Bank Takes Crypto Step

In a move towards legitimizing cryptocurrencies within a strictly regulated framework, Russian Finance Minister Anton Siluanov announced that the Ministry of Finance and the Central Bank of Russia will jointly establish a cryptocurrency exchange specifically for “super-qualified investors.” The initiative aims to legalize certain crypto transactions and bring transparency to a part of the market that is often seen as opaque. The platform, which could be a new system or based on an existing exchange, is designed to operate under Russia’s experimental legal regime (ELR). Current regulations allow for two potential paths: creating a new exchange from scratch or adding cryptocurrency trading capabilities to existing platforms. Regardless of the method, the new exchange will be limited to a select group of elite investors. Related News: A Trader Turns $173 into $224K on This Altcoin: Insider or Just Luck? The definition of a “super-qualified” investor is at the heart of the proposal. The central bank had previously suggested granting this status to individuals with investments of at least $1.2 million or annual incomes exceeding $600,000. However, Osman Kabaloev, Deputy Director of the Finance Ministry’s Financial Policy Department, said these thresholds were still under discussion and could be revised. Individual and low-end investors will not be left out of the crypto market entirely. While direct access to the proposed exchange will be restricted, others will be able to participate in the market through derivatives tied to cryptocurrency values. These products will not involve the distribution of digital assets themselves, but will reflect price movements. *This is not investment advice. Continue Reading: Russian Finance Minister Makes Important Statement About Cryptocurrencies – Central Bank Takes Crypto Step

Source: BitcoinSistemi