The Bank of Russia has suggested creating an experimental legal regime (ELR) for crypto transactions — trading will be allowed only for “especially qualified” investors.
The ELR is set to last for three years. It’s still an experiment, but sounds like the first step toward domestic crypto legalization.
Currently, there’s no national crypto exchange in Russia — only foreign platforms (plus VPNs and prayers). So the Central Bank’s move is cautious, but intriguing.
Who will be eligible to trade under the ELR? So-called “especially qualified investors”:
- individuals with assets over ₽100 million or an annual income of ₽50 million,
- companies with qualified investor status,
- financial institutions (under separate Central Bank regulatory oversight).
Which platform will be used is still unknown. There’s speculation it might be the Moscow Exchange.
So grab your popcorn and watch how Russia’s first legal crypto season unfolds.