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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Russia’s Central Bank to Launch Crypto Exchange as Part of BRICS Digital Push

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The post Russia’s Central Bank to Launch Crypto Exchange as Part of BRICS Digital Push appeared first on Coinpedia Fintech News

Russia is rolling out a government-backed cryptocurrency exchange—but not for everyday investors. Instead, the platform will be strictly limited to the ultra-wealthy, defined as “super-qualified” individuals holding over 100 million rubles (~$1.2M) in assets or earning more than 50 million rubles (~$600K) annually.

The initiative, jointly developed by the Ministry of Finance and the Central Bank of Russia, marks a dramatic shift in the nation’s approach to crypto. It’s part of a broader effort to legalize digital assets, create a controlled experimental zone, and sidestep mounting Western sanctions.

Why Is Russia Rushing Into Crypto Now?

Following intensified global sanctions that have cut off access to traditional financial systems, Russia is turning to digital assets as a lifeline. With top platforms like Deribit exiting the Russian market and others like Garantex frozen out and losing millions, the Kremlin is moving to bring crypto under state control.

Finance Minister Anton Siluanov confirmed that the new platform is intended to make crypto use legal, but only under the government’s watchful eye. Average investors might only be allowed to trade crypto derivatives, and even then, under heavy regulation.

Sanctions Evasion and Global Trade: The Bigger Crypto Strategy

At the recent BRICS Summit, Russia expressed strong support for using digital currencies in international trade settlements, hinting at a future where its own ruble-backed stablecoin could enter the scene. The message is clear: Russia sees crypto as a tool to bypass financial restrictions and maintain its global economic footprint.

Reuters recently revealed that Russian oil firms are already using Bitcoin and Ethereum through intermediaries to continue trade with China and India. This behind-the-scenes adoption of crypto is quietly powering international commerce, even as traditional pathways remain blocked.The elite crypto exchange is expected to launch later this year, though internal debates over regulations are ongoing. If successful, it could be a key pillar in Russia’s economic strategy, keeping financial channels alive through blockchain while reshaping how the country interacts with the global economy.

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