俄罗斯正在推出新的加密货币交易所，但仅针对“超级合格的投资者”

该平台将仅限于一类“超级合格投资者”类别，作为三年实验法律制度的一部分。

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.

俄罗斯的财务部和中央银行正在合作推出新的加密交易所，但每个人都不会使用。该平台将仅限于一类“超级合格投资者”的独家类别，这是为期三年的实验法律制度的一部分。

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.

财政部长安东·西鲁阿诺夫（Anton Siluanov）在最近的政府会议上宣布该计划时说，目标是将加密货币交易带出阴影，进入受控的法律环境。

“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.

他说：“与中央银行一起，我们将向超级合格的投资者推出加密货币交易所。加密资产将合法化，并将运营从阴影中带出。”

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

对我的朋友俄罗斯的财务最小安东·西鲁亚诺夫（Anton Siluanov）进行了礼貌访问。双边贸易/投资的巨大上涨。

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，他还澄清说，这只会在实验制度的框架下进行，而不是作为更广泛的国内金融体系的一部分。

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.

此举是在3月的中央银行提议之后的，该提议引入了创建单独的高净值投资者类别的想法，允许比特币等合法交易加密货币。

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.

这些“超级合格”的投资者将需要符合严格的财务标准，例如持有至少100亿美元（约120万美元）的资产，或每年收入超过5000万美元（约合60万美元）。

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.

但是这些阈值尚未最终。财政部高级官员奥斯曼·卡巴洛夫（Osman Kabaloev）表示，仍在讨论这些标准并可能会改变。

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

卡巴洛夫在接受采访时对当地媒体说：“有调整的空间。我认为我们会看到有关此事的广泛讨论。”

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.

同时，俄罗斯的一些主要财务参与者已经在为接下来的事情做准备。莫斯科交易所已经确认，一旦制定了法规，就可以推出与加密货币相关的衍生产品。根据交易所的开发负责人的说法，该平台已经“充分准备”，并且可以在2025年才能上线。

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.

圣彼得堡证券交易所也表示兴趣，称这是支持扩大投资机会的努力，并正在努力推出与加密货币价值相关的产品。

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，该国禁止使用数字货币进行付款。但是在此后的几年中，由于西方的制裁和压力越来越大，俄罗斯官员开始寻找将加密货币带入金融体系的法律途径。

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）建议，俄罗斯应该开发自己的国家稳定币，尤其是在美国冻结的钱包与俄罗斯交易所Garantex相关的钱包之后。其他官员还提出了新法律，以将加密货币视为刑事案件中的财产，甚至使用调查期间查获的资产创建国有的加密基金。

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

不过，并不是每个人都相信。一些传统的金融专家对加密货币的长期价值仍然持怀疑态度。

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

文艺复兴时期资本的Igor Danilenko称Crypto为“金字塔计划”，它过于依赖新买家，并且缺乏真正的支持。

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

尽管受到了批评，但俄罗斯似乎已经准备好测试水域，至少与最富有的投资者掌舵。