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The Russian finance ministry has expressed its intention to facilitate easier access to the cryptocurrency market for its citizens, advocating for a decrease in the income threshold for crypto traders in Moscow.
Reports from Russian news agencies RBC and Interfax indicated that these remarks were made by Alexey Yakovlev, the Director of the Financial Policy Department at the Ministry of Finance.
Yakovlev proposed that to “enhance the quality” of the Central Bank’s supervised crypto trading pilot, “a greater number of participants should be able to join the project.”
Alexey Yakovlev, Director of the Ministry of Finance’s Financial Policy Department. (Source: Mir.Doc/YouTube/Screenshot)
Russian Finance Ministry: Crypto Pilot Needs More Participants
The Central Bank and the ministry have been in disagreement over crypto-related issues for several years. The ministry has previously advocated for increased regulations and taxes on crypto exchanges and traders.
Conversely, the bank has consistently pushed for a complete prohibition on crypto trading and the banning of crypto trading platforms.
Last year, President Vladimir Putin instructed both parties to reach a compromise. Moscow has also initiated a shift towards cryptocurrency, utilizing tokens such as Bitcoin (BTC) as a payment method in international trade agreements.
Putin has also urged regions with surplus energy resources to actively participate in crypto mining.
US President Donald Trump stated that the US could enhance its military presence in Poland and hinted at additional financial sanctions targeting Russia being planned https://t.co/zAMOq6mXoq
— Bloomberg (@business) September 3, 2025
Russian Crypto Trading Pilot
The Central Bank has responded by establishing what it refers to as an experimental legal regime (ELR) for crypto traders.
The ELR serves as a sandbox for companies aiming to utilize cryptocurrency instead of the US dollar in trade agreements.
Additionally, it permits “highly qualified” investors to trade crypto under the bank’s oversight.
Currently, only individuals with substantial personal wealth are permitted to engage in crypto trading within the ELR.
Traders must possess securities and deposits valued at over 100 million rubles ($1,231,648) or demonstrate that their income for the previous year surpassed 50 million rubles ($615,753). However, the ministry asserts that this needs to be revised.
According to various Russian estimates, the average monthly salaries in the country range from $700 to just above $1,200.
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Yakovlev did not clarify the extent to which the ministry wishes to lower the threshold. However, he mentioned that “a downward adjustment is currently under discussion.”
The ministry representative suggested that while the ministry believes some form of thresholds should remain, it considers limiting access for ordinary citizens to the ELR counterproductive.
The Russian Ministry of Finance. (Source: Ludvig14 [CC BY-SA 3.0])
Permanent Crypto Regulations Incoming
Yakovlev further noted that the initial plans for the ELR include a three-year duration, after which the ministry and the bank will establish “permanent” regulations for the market.
Thus, he stated, “We must engage a larger number of participants to test all the processes involved.”
Limiting testing to “a super-small layer” of society would not assist the ELR in achieving its intended purpose, he added.
The Russian FinMin reported that its oil and gas revenues in August fell short by 10.5 billion rubles and anticipated an additional shortfall of 21 billion rubles in September. Consequently, to address the deficit, the ministry will need to sell foreign currency again — 31.5 billion rubles per month.
Oil…— The Bell (@thebell_io) September 3, 2025
The Central Bank has long asserted that “unqualified investors must receive maximum protection” from the “high-risk” crypto market.
It has proposed prohibiting all crypto transactions outside the ELR and establishing criminal liability for non-compliance.
However, there are indications that the bank is becoming increasingly isolated in its position on this issue.
The Moscow Exchange has begun providing qualified investors with access to a variety of securities linked to the prices of foreign crypto exchange-traded funds (ETFs).
Some Russian brokers and commercial banks have also started to explore similar business opportunities, in addition to crypto derivative offerings.
Yakovlev mentioned that the Ministry of Finance also aims to utilize the ELR to broaden the types of assets that companies can tokenize.
He indicated that issuers might receive approval to launch coins associated with real-world assets, intellectual “activity,” and corporate rights in limited liability companies.
The ministry official stated that Moscow may consider leveraging token-powered smart contract technology to enhance investors’ options.
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