Russia Launching Government-Backed Crypto Exchange for Super-Qualified Investors

Russia is tightening its embrace of cryptocurrency as a sanctions workaround, with the Central Bank and Finance Ministry preparing to launch a digital asset exchange exclusively for high-net-worth investors. Access will be restricted to individuals holding at least 100 million rubles ($1.2 million) in securities and deposits or earning 50 million rubles ($600,000) annually—a move reflecting Moscow’s broader strategy to integrate crypto into its financial system. The initiative follows sustained lobbying by government officials and business leaders seeking alternative payment channels amid Western restrictions. Separately, authorities are evaluating plans for a state-backed stablecoin pegged to the ruble, signaling a calculated shift toward digital assets despite historical skepticism from regulators.