The Russian Ministry of Finance may allow qualified investors to engage in cryptocurrency trading

Odaily Planet Daily reported that the Russian Ministry of Finance and the Russian Central Bank are discussing the launch of domestic cryptocurrency trading in Russia within an experimental legal framework (ЭПパ). Alexei Yakovlev, Director of the Financial Policy Department of the Ministry of Finance, revealed this news to reporters. The trading participants will belong to the category of "super qualified" investors, and the criteria for identifying this category are still being developed. We are studying how to launch a domestic cryptocurrency trading market within an experimental legal framework. However, this involves' super qualified 'investors, which is an undefined category, and we are determining its standards, "Yakovlev said at 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: experimental legal framework, super qualified investors, and control of all risks. If all three factors can be achieved, we may propose a plan and submit it to the government for review. Currently, this is still 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 that allows for cross-border payments and cryptocurrency transactions within an experimental legal framework starting from September 1, 2024. The central bank has been designated as the authorized regulatory agency in this field. (TASS-RU)