Russia’s Ministry of Finance wants to open the door wider for citizens to take part in crypto trading, calling for lower entry requirements that currently limit participation to the country’s wealthiest individuals.
Russia Wants Broader Crypto Participation
Finance Ministry official Alexey Yakovlev said the government must reduce income and asset thresholds for those who want to join the Central Bank’s experimental crypto trading program, RBC and Interfax have reported.
At present, only investors with deposits and securities worth over 100 million rubles ($1.22 million) or an annual income exceeding 50 million rubles ($615,755) can take part.
Those numbers place crypto access far beyond the reach of ordinary Russians, whose average monthly salary falls between $700 and $1,200.
Yakovlev argued that keeping eligibility this high makes little sense if the country wants its supervised crypto pilot to succeed.
A History Of Disagreement
The Ministry of Finance and the Central Bank have been at odds for years on how Russia should handle crypto. While the ministry has pushed for regulation and taxation, the Central Bank has preferred strict controls, including calls to ban trading altogether.
That divide narrowed last year when Russian President Vladimir Putin ordered both sides to find common ground. Putin has also urged Russian regions with unused energy reserves to engage in crypto mining, tying the sector’s future to the country’s broader economic strategy.
Testing Ground Before Permanent Rules
The Central Bank introduced what it calls an experimental legal governance, designed as a sandbox for comp
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Author: Christian Encila
