Russia will launch a cryptocurrency exchange for qualified investors

Russia's central bank and finance ministry are to set up a cryptocurrency exchange for "highly qualified investors", which will operate "as part of the operation permitted by the experimental legal mechanism". "This will legalise crypto assets and bring crypto operations out of the shadows," Finance Minister Anton Siluanov said. The mechanism reportedly applies to individuals who "invest more than 100 million rubles in securities and deposits, or earn more than 50 million rubles in the previous year". The central bank said the move was aimed at "increasing the transparency of the cryptocurrency market, establishing service standards, and expanding investment opportunities for high-risk investors".