Russia’s Central Bank Plans Limited Crypto Trading for Select Investors
Russia is taking a step towards regulated cryptocurrency investment after multiple financial sanctions from many countries, but only targets select investors. The country’s central bank has proposed a three-year trial to have a group buy and sell bitcoin. While this is an important step, Russia is still cautious when fully accepting cryptocurrencies.
Russia’s new encryption proposal
Russia Central The bank proposed A three-year trial that allows a small group of investors to conduct cryptocurrencies. The plan is part of the government’s efforts to regulate digital assets while removing regular investors from risk markets.
Only experienced investors have at least $1.1 million in securities and deposits to participate.
The central bank made it clear that this is not a cryptocurrency that is fully adopted. This is just a test to see how cryptocurrencies work in Russia’s financial system. The move is also part of President Putin’s plan to shape the country’s approach to digital assets.
Residents do not have cryptocurrency
Despite this step, Russia still bans encryption Daily use payment. Since 2021, Bitcoin and other digital currencies have been restricted by the “digital financial assets” laws. The new proposal confirms that cryptocurrencies can only be used for investment, not payments.
However, Russia is willing to use cryptocurrencies for international trade, especially after Western sanctions.
Expanding cryptocurrency usage in Russia
Despite banning retail cryptocurrency payments, Russia has been exploring the use of cryptocurrencies in foreign trade. Since 2022, central banks have been open to cross-border settlements in cryptocurrencies, allowing businesses to use digital assets for international transactions.
In December 2024, Russian Finance Minister Anton Siluanov confirmed According to the experimental legal framework proposed in September 2024, the country has been actively testing cryptocurrencies in foreign trade.
Russian version of MicroStrategy?
Interestingly, the proposal also hints at allowing qualified companies to invest in cryptocurrencies. Meanwhile, Russian Bank believes that a controlled crypto investment framework will bring greater transparency to local markets.
This may allow Russian companies to follow Michael Saylor’s Microdiseaseit accumulates a lot of Bitcoin. Companies like Tesla and Metaplanet have done the same thing, showing the trend of companies investing in Bitcoin.
