Russia is considering an experimental cryptocurrency trading programme for top-tier investors, requiring a minimum holding of 24 million roubles ($250,000).

The Ministry of Finance and the Bank of Russia are leading discussions on the initiative, which aims to establish a regulated space for crypto trading.

Whilst the project remains in its early stages, it would allow professional investors to engage in the market under government supervision.

Currently, Russians can own crypto but cannot use it as legal tender, and there is no centralised exchange for digital assets in the country, forcing traders to rely on foreign platforms.

Despite the ban on domestic exchanges, Garantex, a Russian-based platform sanctioned by the US and the EU, remains operational.

The exchange, headquartered in Moscow, enables rouble transactions through major Russian banks, raising concerns over regulatory oversight and enforcement.