The central bank of Russia has proposed to allow crypto trading for select investors under an experimental regime.

The central banks aims to establish standards for crypto-related services and increase market transparency while expanding investment opportunities for wealthy investors.

Russia's central bank wants to launch an initiative that allows wealthy investors to buy and sell cryptocurrencies.

The Central Bank of Russia announced on March 12 that it was considering allowing a limited number of investors to buy and sell cryptocurrencies. The bank revealed that the suggestion followed President Vladimir Putin’s directive to submit proposals to the government for discussions concerning digital asset regulations in the country.