Russia will pilot the establishment of cryptocurrency exchanges, only for high-net-worth investors

PANews reported on April 24 that according to Interfax, the Russian Ministry of Finance and the central bank will set up a cryptocurrency exchange for high-net-worth investors as one of the compliance mechanisms under the "experimental legal system". Participants must have more than 120 million rubles of assets or annual revenue exceeding 50 million rubles. The plan aims to legalize crypto transactions and improve market transparency, but it is only used for foreign trade settlement and is not applicable to domestic payments. The pilot program will be launched in 6 months.