Russia Intends to Launch a “National Crypto Exchange”
Local lawmakers are working on amendments to existing "Digital Financial Assets" legislation in consultation with market participants.
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Russian lawmakers are working on amendments to launch a national crypto exchange. This effort would be supported by both the Ministry of Finance and the Central Bank of Russia, which have a long history of disagreement over the regulation of crypto in the country.
As local media reported on November 23, members of Russia's lower house of parliament, the State Duma, discussed with market participants amendments to the country's existing cryptocurrency legislation "On digital financial assets". The amendments, which would establish a legal framework for a national stock exchange, will first be presented to the central bank.
Sergey Altuhov, a member of the State Duma's Economic Policy Committee, underlined the budgetary sensitivity of such measures:
“It makes no sense to deny the existence of cryptocurrencies, the problem is that they circulate in a wide stream outside of state regulation. the federal budget.“
In June, the head of the State Duma's Committee on Financial Markets, Anatoly Aksakov, suggested that a national cryptocurrency exchange in Russia could be launched under the Moscow Stock Exchange, "a respectable organization with long traditions". In September, the Moscow Stock Exchange drafted a bill on behalf of the central bank to allow trading in digital financial assets.
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Local lawmakers are working on amendments to existing "Digital Financial Assets" legislation in consultation with market participants.
New
Russian lawmakers are working on amendments to launch a national crypto exchange. This effort would be supported by both the Ministry of Finance and the Central Bank of Russia, which have a long history of disagreement over the regulation of crypto in the country.
As local media reported on November 23, members of Russia's lower house of parliament, the State Duma, discussed with market participants amendments to the country's existing cryptocurrency legislation "On digital financial assets". The amendments, which would establish a legal framework for a national stock exchange, will first be presented to the central bank.
Sergey Altuhov, a member of the State Duma's Economic Policy Committee, underlined the budgetary sensitivity of such measures:
“It makes no sense to deny the existence of cryptocurrencies, the problem is that they circulate in a wide stream outside of state regulation. the federal budget.“
In June, the head of the State Duma's Committee on Financial Markets, Anatoly Aksakov, suggested that a national cryptocurrency exchange in Russia could be launched under the Moscow Stock Exchange, "a respectable organization with long traditions". In September, the Moscow Stock Exchange drafted a bill on behalf of the central bank to allow trading in digital financial assets.
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