Russian Ministry of Finance and Central Bank to Launch Elite-Only Crypto Exchange

A bold crypto revolution is underway as Russia launches a regulated crypto exchange for elite investors, dragging digital assets into legality, led by the Finance Ministry and the central bank.

Current eligibility criteria for this elite investor group, as initially proposed by the Bank of Russia, include holding over 100 million rubles ($1.2 million) in investments and deposits or having an annual income exceeding 50 million rubles. However, these thresholds are not final. Osman Kabaloev, Deputy Director of the Financial Policy Department at the Finance Ministry, noted ongoing flexibility in setting access requirements, stating: “Perhaps it will be in this format or these indicators will be somehow adjusted in one direction or another — this is possible. I think there will be a wide range of discussions."
https://news.bitcoin.com/russian-ministry-of-finance-and-central-bank-to-launch-elite-only-crypto-exchange

Aside the fact that this would Drag Crypto from the shadows, what effect do you think this move has on the crypto ecosystem?
What do we expect in the long run?