Russian Bank Plans 3-Year Crypto Trial for Qualified Investors

Russia’s central bank is planning a three-year trial that will let certain investors trade cryptocurrencies. The goal is to create a controlled environment for crypto investments while keeping strict limits on everyday use by regular people.

Under the proposed framework, only “particularly qualified” investors will be permitted to trade cryptocurrencies. To qualify, individuals must hold at least 100 million rubles ($1.1 million) in securities and deposits or have earned more than 50 million rubles ($575,000) in the past year. Companies that meet the criteria for qualified investors under Russian law may also participate in the program.

The central bank emphasized that outside this trial period, cryptocurrency transactions for retail investors will remain strictly prohibited. However, all qualified investors—whether inside or outside the experimental regime, will be allowed to invest in financial instruments whose returns are tied to cryptocurrency values, without direct ownership of digital assets.

The Bank of Russia is letting a select group of investors trade crypto but still doesn’t consider it real money. To make sure the rules are followed, it’s planning tough penalties for anyone who breaks them, keeping crypto out of everyday spending.

The central bank warned that digital assets remain highly volatile and are not backed by any government or jurisdiction. “Investors must be aware that they are taking on the risks of potential loss of their funds,” the statement noted.

Despite domestic restrictions, Russia has been exploring cryptocurrency use in international trade. In December 2024, Finance Minister Anton Siluanov confirmed that the government was experimenting with digital assets for foreign transactions under a separate regulatory framework introduced in September 2024.

Additionally, the central bank’s proposal includes plans to regulate financial institutions interested in cryptocurrency investments. People are wondering if Russian companies might start copying what an American company called MicroStrategy has done—putting a lot of money into Bitcoin. 

The idea has been sent to the Russian government for them to check out, after President Vladimir Putin told them to look into it. If they say yes, this new plan could let rich investors and banks deal with digital money in a way that’s legal and follows Russia’s rules.

As they talk it over, whatever they decide could change how Russia handles cryptocurrency laws and might even affect how the rest of the world deals with digital money rules.