The Russian Central Bank and Ministry of Finance will launch a cryptocurrency trading platform for 'highly qualified investors'

On April 24th, according to The Block, the Russian Central Bank and Ministry of Finance will launch a cryptocurrency trading platform for "highly qualified investors". Russian Finance Minister Anton Siluanov said, "This will legalize encrypted assets and bring encrypted operations out of the shadows." He added, "Naturally, this will not happen domestically, but as part of the operations allowed under an experimental legal system The Central Bank of Russia submitted a proposal in March to allow cryptocurrency trading under the Experimental Legal Regime (ELR) to serve highly qualified investors. It is reported that this status will be granted to those who have invested over 100 million rubles (approximately 1.2 million US dollars) in securities and deposits, or have earned over 50 million rubles (approximately 600000 US dollars) in the previous year.