Russia performed experimental cryptocurrency trading for top level investors, with $ 250,000 minimum asset holding.
Russia is searching for the idea of starting experimental cryptocurrency trading for top-level investors, a step that will allow a select group to participate in the cryptocurrency market, state-state-state-state news agency Interfax ReportsCiting Alexi Yakovleve, head of the Financial Policy Department of the Ministry of Finance.
According to the report, the Finance Ministry and the Bank of Russia are negotiating the project, which aims to create a safe place for crypto trading. However, the plan is still in its early stages, Yakovlev added in detail the details.
It is understood that the pilot will only open to top level investors-pedestrian market participants and individual investors-at least 24 million rubles ($ 250,000) with individual holdings.
While crypto is allowed in Russia, it is banned from using it as a legal tender. Officially, the country has no centralized exchange for cryptocurrency. This means that individuals can trade crypto only on foreign platforms.
However, as Crypto.News reported earlier, the Grantage, a Crypto Exchange approved by the US and the European Union, appears to be one of the largest Russian exchanges working in the purview of the Kremlin. The exchange has offices in the Moscow Federation Tower and allows deposits and withdrawal in rubles in ruble bank cards, including people from Seberbank, Tinkoff and Alpha-bank.
