The Russian Ministry of Finance wants to open the door to citizens to participate in the cryptography trade, calling for lower entry requirements which currently limit participation in the richest individuals in the country.
Russia wants a wider participation
The head of the Ministry of Finance, Alexey Yakovlev, said that the government should reduce income and asset thresholds for those who wish to join the Central Bank’s Crypto, RBC and Interfax trading program.
Currently, only investors with deposits and securities worth more than 100 million rubles (1.22 million dollars) or an annual income exceeding 50 million rubles ($ 615,755) can participate.
These figures place access to crypto far beyond the scope of ordinary Russians, whose average monthly salary is between $ 700 and $ 1,200.
Yakovlev argued that maintaining eligibility at this level is not very logical if the country wanted its supervised cryptography driver to succeed.
A story of disagreement
The Ministry of Finance and the Central Bank have disagreed for years on how Russia should manage the crypto. While the ministry has pressure for regulations and taxation, the central bank preferred strict controls, including calls to completely prohibit trade.
This fracture narrowed last year when Russian President Vladimir Putin ordered both parties to find common ground. Putin has also urged the Russian regions with unused energy reserves to engage in the exploitation of cryptography, linking the future of the sector to the country’s broader economic strategy.
Field test before permanent rules
The central bank has introduced what it calls experimental legal governance, designed as a sandbox so that companies use crypto in cross -border transactions. It also provides controlled space where qualified investors can buy and sell crypto under official surveillance.
The ministry now wants the ELR to imply more people before the end of the program. Current plans limit the sandbox to three years, after which permanent regulations are expected.
Tokenization plans on the table
The Ministry of Finance also considers the pilot as an opportunity to extend tokenized assets in Russia. Yakovlev said that companies may be authorized to release documents supported by real assets, intellectual property and corporate rights in limited liability companies. He added that intelligent contract technology could give investors more tools and flexibility.
While the central bank continues to argue that average citizens must be protected against the risks of cryptographic negotiation, its position loses ground.
Moscow Exchange now offers investors access to titles related to FNB Crypto abroad, and some commercial banks have started to look at derivatives and other products related to crypto.
Felash star image, tradingView graphic
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