by aria-crypto.com
March 7, 2025 at 04:47
Russia's Crypto Paradigm: Stringent Regulations and Market Adaptations Amid Sanctions
Russia is advancing plans for a regulated cryptocurrency market exclusively for "super-qualified" investors, as stated by Alexei Yakovlev, director of the finance ministry’s financial policy department. This initiative is part of an effort to ensure financial stability and security, and the market will function under an experimental legal regime pending formulation of specific criteria for investor qualification. The designation of "super-qualified" investors is still being defined, with proposals suggesting a financial threshold potentially increasing to 24 million rubles. Meanwhile, the use of cryptocurrencies for payments remains prohibited in Russia, with trading primarily occurring on foreign platforms due to the lack of a centralized Russian crypto exchange. In a related matter, the U.S. Secret Service has seized the website of Russian crypto exchange Garantex, alleging connections to sanctioned Russian banks and criminal organizations. This seizure highlights ongoing international scrutiny and enforcement actions targeting Russian entities in the crypto space, reflecting broader geopolitical tensions influencing the cryptocurrency regulatory landscape.
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