According to Bitcoin news, Russia is preparing to make new moves for Bitcoin (BTC) and cryptocurrencies.
Accordingly, the Russian Ministry of Finance, Moscow Stock Exchange and St. He proposed allowing traditional exchanges, such as the St. Petersburg Stock Exchange, to offer cryptocurrency trading services to certain qualified investors.
The ministry also proposed allowing the Bank of Russia to start creating an experimental cryptocurrency platform for international payments from September 1.
The Ministry's proposal did not specify the criteria for which investors would be included in the “qualified investor” category.
Anatoli Aksakov, Chairman of the State Duma Financial Market Committee, stated in his statement that he believes that the exchanges officially registered in Russia are ready to carry out cryptocurrency transactions and said:
” Russia's largest stock exchanges are already actively carrying out such work in terms of market development and how to organize related work. And we think that these exchanges will also carry out cryptocurrency transactions without any problems.
They will be immediately involved in the process only if the necessary legal conditions for their work are prepared. Therefore, I do not think there will be any problems with exchanges handling cryptocurrency transactions.”
According to the news, there are seven exchanges operating in Russia that are officially recognized, licensed and registered in the trade registry: Moscow Stock Exchange, St. Petersburg Stock Exchange, St. Petersburg International Commodity Exchange (SPIMEX), St. Petersburg Exchange Exchange (SPCE), Eastern Exchange, National Commodity Exchange and CTS Exchange.
The Russian Ministry of Finance advocates for comprehensive digital currency regulation and has previously suggested legalizing cryptocurrency exchanges in Russia.
*This is not investment advice.