The Russian Central Bank and Ministry of Finance will launch a cryptocurrency exchange platform targeting "high-qualified investors."

BlockBeats News, April 24th, according to The Block, the Central Bank of Russia and the Ministry of Finance will launch a cryptocurrency exchange platform targeting "qualified investors."

Russian Finance Minister Anton Siluanov stated: "This will legalize cryptocurrency and bring crypto operations out of the shadows." He added: "Naturally, this will not happen domestically but as part of operations allowed under an experimental legal regime."

In March, the Central Bank of Russia submitted a proposal to allow "cryptocurrency transactions under the Experimental Legal Regime (ELR) to serve qualified investors." It is reported that this status will be granted to those who hold securities and deposits exceeding 100 million rubles (approximately $1.2 million) or had an income of over 50 million rubles (approximately $600,000) in the previous year.