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Russia proposes 3-year crypto trading experiment for wealthy investors

Category: Asia Crypto
Posted by Neha Soni Posted: Mar 13, 2025
Russia proposes 3-year crypto trading experiment for wealthy investors

The Central Bank of the Russian Federation has announced its intention to allow qualified individuals and companies to participate in cryptocurrency trading within a three-year experimental framework. This proposal, submitted to the Russian government for further discussion, comes after years of uncertainty surrounding the country’s approach to digital currencies.

Who’s eligible?

To qualify as an investor and participate in this experiment, individuals must over 100 million rubles ($11.5 million) in stock investments or deposits. Alternatively, they would also be eligible if they earned over 50 million rubles in income in the previous year. Additionally, companies qualified under the applicable law, meeting the legal criteria are also eligible to take part in this experiment. There are plans to establish regulatory requirements for interested financial organisations.

“[The experiment] is aimed at increasing the transparency of the cryptocurrency market, the formation of standards for the provision of services on it, [and] the expansion of investment opportunities for experienced investors who are ready to take on increased risks,” the central bank said in a translated statement.

The new initiative may hint at Russia’s move towards a wider adoption of cryptocurrencies.  While the proposal lays out the eligibility criteria for individuals and entities, it also hints at a robust regulatory framework that will accompany the experiment. This framework will likely establish the parameters for cryptocurrency exchanges, trading platforms, and the financial institutions involved in this project, years after President Vladimir Putin signed a law banning crypto asset payments in 2022.

Stance on crypto as payments

However, Russian central bank’s stance on cryptocurrencies remains clear—they do not recognize crypto as a valid payment method. Additionally, there are plans to prohibit settlements outside the authorised participants within the experiment, ensuring that any transactions remain closely monitored. Those engaging in the same would be subject to penalties for violation.

The country had also halted cryptocurrency mining for six years in ten regions. The move, that came into effect January 1, 2025, came as the country struggles with energy shortages and as part of the country’s strategic financial plans. The restrictions, lasting till March 15, 2031, is sure to have ripple effects across the crypto world, especially for miners in regions heavily reliant on mining operations. The ban is directed to regions with high energy consumption and demand. The affected regions are Dagestan, Chechnya, and the Donetsk and Lugansk People‘s Republics.

Russia, along with other sanctioned countries, has been exploring cryptocurrencies as a means to circumvent sanctions to access global financial markets. With the new experiment, the global community might see further innovation in how digital currencies can be used to bypass traditional financial restrictions.

 

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