Russia discusses initiating domestic cryptocurrency trading under experimental legal framework

The Russian Ministry of Finance and the Central Bank are discussing the launch of domestic cryptocurrency trading under an experimental legal framework, limited to "ultra-high qualification" investors, with specific standards for this category still being developed. A finance ministry official said that if there is consensus on the experimental system, investor qualification standards and risk control, a formal proposal may be submitted to the government. Discussions are still ongoing among the Ministry of Finance, Central Bank and market participants. Previously, Putin signed a law in August 2024 allowing cross-border payments and cryptocurrency transactions under an experimental legal framework from September 2024 onwards, with regulatory authority vested in the central bank. (TASS)