The Bank of Russia has outlined a three-year framework that would allow wealthy investors in the country to trade crypto assets.

The central bank said the initiative, which it announced on March 12, followed direct instructions from Russia’s president, Vladimir Putin. It would only apply to investors with at least 100 million rubles ($1.17 million according to the official exchange rate) in investments and whose income in 2024 exceeded 50 million rubles. Companies deemed to be “especially