Crypto: Russia plans to launch a national crypto exchange

As part of the launch of a national crypto exchange, Russian lawmakers are working on amendments to existing legislation. It seems that Russia is opening up more and more to cryptos.

Lawmakers are working on amendments to existing legislation

In Russia, the existing crypto legislation will be updated again. Indeed, Russia is currently working on launching a national exchange for cryptos, according to a report from Cointelegraph. Members of the lower house of the Russian parliament, the Duma, are discussing amendments to this legislation with market participants. The central bank and the Ministry of Finance support this initiative. This is an interesting fact since these two government entities are known to disagree on the regulation of cryptos.

Moreover, it will be the central bank that will first receive the presentation of the changes. These changes will be the legal bases on which the national crypto exchange of Russia will be established. The largest country in the world by land area seems to be getting more and more into crypto.

Crypto: Russia plans to launch a national crypto exchange
Crypto: Russia plans to launch a national crypto exchange

Russia: a national “crypto exchange” attached to the Moscow stock exchange

Russia is opening up more and more to cryptos. Indeed, several changes in favor of digital assets have been made in the country since the war in Ukraine. It was in June that the chairman of the Duma Financial Market Committee made the proposal for the establishment of a national crypto exchange. Not to mention the bill drafted by the Moscow Stock Exchange, on behalf of the central bank, authorizing the exchange of crypto. Additionally, another bill to allow crypto mining and selling was introduced in the Duma earlier this month.

However, it could be that Russia is moving into crypto in order to circumvent sanctions on its banking system. At least, that’s what some experts think. All these bills in favor of cryptos would therefore be a policy of economic recovery, and not a question of freedom for citizens.

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