俄羅斯正在推出新的加密貨幣交易所，但僅針對“超級合格的投資者”

該平台將僅限於一類“超級合格投資者”類別，作為三年實驗法律制度的一部分。

Russia's finance ministry and central bank are teaming up to launch a new crypto exchange, but it won't be available to everyone. The platform will be limited to an exclusive class of "super-qualified investors" as part of a three-year experimental legal regime.

俄羅斯的財務部和中央銀行正在合作推出新的加密交易所，但每個人都不會使用。該平台將僅限於一類“超級合格投資者”的獨家類別，這是為期三年的實驗法律制度的一部分。

Announcing the plan at a recent government meeting, Finance Minister Anton Siluanov said the goal is to bring crypto trading out of the shadows and into a controlled, legal environment.

財政部長安東·西魯阿諾夫（Anton Siluanov）在最近的政府會議上宣布該計劃時說，目標是將加密貨幣交易帶出陰影，進入受控的法律環境。

“Together with the Central Bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and operations will be brought out of the shadows,” he said.

他說：“與中央銀行一起，我們將向超級合格的投資者推出加密貨幣交易所。加密資產將合法化，並將運營從陰影中帶出。”

Paid a courtesy visit to my friend Russia's Finance Min Anton Siluanov. Huge upside in bilateral trade/investments..

對我的朋友俄羅斯的財務最小安東·西魯亞諾夫（Anton Siluanov）進行了禮貌訪問。雙邊貿易/投資的巨大上漲。

However, he also clarified that this will happen only under the framework of the experimental regime and not as part of the broader domestic financial system.

但是，他還澄清說，這只會在實驗制度的框架下進行，而不是作為更廣泛的國內金融體系的一部分。

This move follows the central bank's proposal in March, which introduced the idea of creating a separate class of high-net-worth investors allowed to legally trade cryptocurrencies like Bitcoin.

此舉是在3月的中央銀行提議之後的，該提議引入了創建單獨的高淨值投資者類別的想法，允許比特幣等合法交易加密貨幣。

These "super-qualified" investors would need to meet strict financial criteria—such as holding at least ₽100 million (about $1.2 million) in assets or earning over ₽50 million (around $600,000) annually.

這些“超級合格”的投資者將需要符合嚴格的財務標準，例如持有至少100億美元（約120萬美元）的資產，或每年收入超過5000萬美元（約合60萬美元）。

But these thresholds aren't final yet. Osman Kabaloev, a senior official at the finance ministry, said the criteria are still being discussed and may change.

但是這些閾值尚未最終。財政部高級官員奧斯曼·卡巴洛夫（Osman Kabaloev）表示，仍在討論這些標準並可能會改變。

"There's room for adjustment. I think we'll see a broad discussion around this," Kabaloev told local media in an interview.

卡巴洛夫在接受采訪時對當地媒體說：“有調整的空間。我認為我們會看到有關此事的廣泛討論。”

Meanwhile, some of Russia's major financial players are already preparing for what's next. The Moscow Exchange has confirmed that it's ready to roll out crypto-linked derivatives once regulations are in place. According to the exchange's development head, the platform is "fully prepared" and could go live as soon as 2025.

同時，俄羅斯的一些主要財務參與者已經在為接下來的事情做準備。莫斯科交易所已經確認，一旦制定了法規，就可以推出與加密貨幣相關的衍生產品。根據交易所的開發負責人的說法，該平台已經“充分準備”，並且可以在2025年才能上線。

The Saint Petersburg Stock Exchange has also expressed interest, saying it backs efforts to broaden investment opportunities and is working on launching products linked to the value of cryptocurrencies.

聖彼得堡證券交易所也表示興趣，稱這是支持擴大投資機會的努力，並正在努力推出與加密貨幣價值相關的產品。

In 2021, the country outlawed the use of digital currencies for payments. But in the years since, amid growing sanctions and pressure from the West, Russian officials have started looking for legal pathways to bring crypto into the financial system.

2021年，該國禁止使用數字貨幣進行付款。但是在此後的幾年中，由於西方的製裁和壓力越來越大，俄羅斯官員開始尋找將加密貨幣帶入金融體系的法律途徑。

For example, last week Kabaloev suggested that Russia should develop its own national stablecoin, especially after the U.S. froze wallets linked to the Russian exchange Garantex. Other officials are also proposing new laws to recognize crypto as property in criminal cases or even to create a state-run crypto fund using assets seized during investigations.

例如，上周卡巴洛夫（Kabaloev）建議，俄羅斯應該開發自己的國家穩定幣，尤其是在美國凍結的錢包與俄羅斯交易所Garantex相關的錢包之後。其他官員還提出了新法律，以將加密貨幣視為刑事案件中的財產，甚至使用調查期間查獲的資產創建國有的加密基金。

Still, not everyone is convinced. Some traditional financial experts remain skeptical about the long-term value of cryptocurrencies.

不過，並不是每個人都相信。一些傳統的金融專家對加密貨幣的長期價值仍然持懷疑態度。

Igor Danilenko from Renaissance Capital called crypto "a pyramid scheme" that relies too heavily on new buyers and lacks real backing.

文藝復興時期資本的Igor Danilenko稱Crypto為“金字塔計劃”，它過於依賴新買家，並且缺乏真正的支持。

Despite the criticism, Russia seems ready to test the waters—at least with its wealthiest investors at the helm.

儘管受到了批評，但俄羅斯似乎已經準備好測試水域，至少與最富有的投資者掌舵。