The Central Bank of Russia has unveiled a new proposal to allow qualified individuals to trade cryptocurrencies within a three-year experimental period.

The initiative, which has been submitted to the Russian government for further review, targets experienced investors with significant financial resources.

The central bank defines “qualified” investors as those holding over 100 million rubles ($11.5 million) in stock investments and deposits, or individuals who earned at least 50 million rubles in income last year.

Companies to Participate in Russia’s Crypto Trading Experiment

Additionally, companies that meet the legal requirements are eligible to participate in the experiment.

The central bank intends to establish regulatory guidelines for financial organizations interested in joining the initiative.

The goal of this experiment is to enhance the transparency of the cryptocurrency market, establish service standards, and broaden investment opportunities for high-net-worth investors willing to take on greater risks.

Despite this progressive move, the central bank emphasized that it does not recognize cryptocurrencies as a form of payment.

Therefore, it plans to restrict settlements to only authorized participants and enforce penalties for non-compliance.

The proposal marks a shift in Russia’s stance on cryptocurrencies, coming years after President Vladimir Putin signed a law in 2022 banning crypto asset payments.

While the initiative signals a potential move toward broader cryptocurrency adoption, it remains focused on high-level investors.

At the same time, Russia has been exploring the use of cryptocurrencies to bypass Western sanctions, with efforts to build financial infrastructure for crypto-based international trade.

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Last week, the Russian Finance Ministry said it has no immediate plans to build a national strategic crypto reserve, but claimed that this could change if a key condition is met.

The ministry said the National Welfare Fund (NWF)’s level of liquid funds should be topped up to reach a level equivalent to 7-10% of Russia’s GDP before Moscow considers buying “riskier” assets like crypto.

As previously reported, the Russian Central Bank Governor Elvira Nabiullina is a known crypto-skeptic.

Nabiullina has tried on multiple occasions to orchestrate a total, China-style ban on crypto in Russia.

Russia CBDC Launch Is ‘Delayed Indefinitely’

Earlier this month, Russia delayed the rollout of its CBDC, the digital ruble, indefinitely.

The Central Bank previously said that its nationwide rollout would take place on July 1, 2025. But in its most recent statements, the bank has announced that the launch will no longer take place as scheduled.

At the time, Elvira Nabiullina, the Central Bank Governor, told Russian media outlets that Moscow will “move on with the mass implementation of the digital ruble somewhat later than originally planned.”

She added that the Central Bank would take a closer look at the results of its ongoing pilot.

Furthermore, she said that the bank wanted to hold new “consultation” sessions with commercial banks.

Nabiullina further suggested that further talks were needed on the “economic model” that is “most attractive to banks’ clients, businesses, and people [in general].”

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