Yesterday, RBC.RU reported that the Ministry of Finance and the Central Bank of Russia will launch a new crypto exchange for super-qualified investors.
The fact is that Russia's new regulations will require the creation of a crypto exchange from the beginning, or launching a crypto trade on an existing platform, but according to the words of financial minister Anton Siluanov, the government will be selected for the first hypothesis.
Russia's new crypto exchange
First of all, it is necessary to determine that this is not an initiated project, as it is known, but An idea referred to by the financial minister.
Siluanov is said to have revealed the idea at a meeting of Ministero Delle Finanzeand his statements were later reported by a letter of RBC.
According to what the RBC reported, Siluanov said the ministry, with the middle bank with.
On the other hand, existing Russian brokers have already announced their willingness to implement crypto trading tools.
The difference is perhaps lies in the fact that traditional trading platforms operating in Russia should not have special restrictions for crypto users, while the new state platform is limited to super-qualified investors. To date, however, it does not seem that in Russia there is a conversation that allows crypto trading on traditional platforms that are open to everyone.
The super-qualified investor
The new state exchange therefore will not be open at all.
Central Bank's initial hypothesis is to provide access only to investors whose investments in security and deposits exceed 100 million rubles (1.2 million dollars)or whose income from last year is greater than 50 million rubles (600,000 $).
However, the Ministry of Finance added that these requirements may also be modified, given that the deputy director of the Department of Financial Policy of the same ministry, Osman Kabaloev, said they were uncertain standard.
In fact, the initial proposal of the Bank of Russia is different, and to establish an experimental legal regime (ELR) that lasts for three years that will only allow crypto trading in a limited circle of Russian investors at the time. Subsequently, however, the limit was “expanded” to those possessed by possessions of at least 100 million rubles, or a income of at least 50 million rubles.
Those who do not fall into this category do not directly interact with cryptocurrencies, but traditional financial derivative products based on criptovalute.
RBC writes:
“Any Russian citizen with the standard status of a qualified investor can replace such derivative instruments”.
Crypto derivatives will also come
CEO for selling and developing business of Moscow Exchange (The Moscow Stock Exchange), Vladimir Krekoten, said their trade platform is ready to launch Crypto derivatives tradingOnce Russia's new regulations in cryptocurrencies will be effective.
The SPB Exchange (La Borsa di San Pietroburgo) also stated that it had similar plans.
Other Russian brokers say they are considering the possibility of providing clients accessing crypto instruments once the new legal framework provides the area.
The CEO of Brokerage Division of Financial Group Finam, Dmitry LesnovHe said he believed that the crypto market could be a serious competitor in the traditional capital market.
So Russia is preparing to open up to crypto trading, but on traditional trading platforms and only by exchanging traditional financial products.
The actual direct purchase and sale of cryptocurrencies, on the other hand, will be accessible only to a selected group of wealthy individuals, and perhaps only on the state platform.
