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Bank of Russia Proposes Three-Year Bitcoin Trading Experiment for High Net-Worth Investors, Directed by President Putin

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Updated Mar 13, 2025, 09:46 PM

The Bank of Russia has proposed a three-year experimental legal regime that would allow a select group of investors to trade cryptocurrencies, including Bitcoin. This initiative, directed by President Vladimir Putin, aims to enhance market transparency and establish standards for cryptocurrency services while expanding investment opportunities for experienced investors. Under the proposed framework, only 'particularly qualified investors'—those with over 100 million rubles ($1.14 million) in investments or an annual income exceeding 50 million rubles ($570,000)—would be permitted to engage in cryptocurrency transactions. Additionally, qualified institutional investors would also be allowed to participate in this 3-year trial. The central bank emphasized that cryptocurrencies are not recognized as a means of payment in Russia and proposed banning transactions between residents outside the experimental regime, with penalties for violations. The proposal also includes provisions for high net-worth and financial institutions, classified as qualified investors, to access derivatives and securities linked to digital assets.

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