Russia to develop operating rules for crypto exchanges
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Russia has abandoned the idea of creating one national cryptocurrency exchange. Instead, they will develop working rules for crypto exchanges.
This is reported by the Izvestia newspaper, referring to the head of the State Duma Committee on the Financial Market Anatoly Aksakov.
We remind you that at the end of 2022, the issue of creating a single national cryptocurrency exchange was discussed. Draft amendments to the law "On Digital Financial Assets" were being prepared.
It was planned to create a national exchange in the second quarter of this year. This was stated by the head of the State Duma Committee on Financial Markets Anatoly Aksakov in an interview with Izvestia. Now this idea has been abandoned.
Instead of one crypto-exchange, Russia will set rules for working with crypto-exchanges
Anatoly Aksakov points out that instead of creating one national crypto exchange, they will establish rules for the establishment and operation of crypto exchanges. According to Anatoly Aksakov, the platforms will be used for cross-border payments. They will also be needed to circumvent sanctions restrictions.
The Central Bank of the Russian Federation will regulate the activities of crypto exchanges in Russia. Rules for ad platforms will be included in the draft law on experimental legal regimes. It is worth recalling that earlier the Ministry of Finance did not support the idea of creating only one cryptocurrency exchange.
The Ministry of Finance proposes to regulate by law the possibility of creating such platforms for businesses. As Ivan Chebeskov, Director of the Financial Policy Department of the Ministry of Finance of the Russian Federation, pointed out, it is necessary to comprehensively regulate digital currencies and create conditions for the operation of digital platforms.
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