A potential Russian crypto trading venue should be monitored by the Bank of Russia and its standards should be based on the Moscow Exchange, State Duma's Aksakov said.
A potential Russian crypto trading venue should be monitored by the Bank of Russia and its standards should be based on the Moscow Exchange, State Duma’s Aksakov said.
Anatoly Aksakov – Chairman of the Committee on Financial Markets of the State Duma – said the government is not against the creation of a cryptocurrency trading venue in Russia. However, the entity should comply with the central bank’s strict regulations and operate similarly to the Moscow Exchange, he added.Even though the Russian government, and especially the Bank of Russia , are predominantly against the cryptocurrency industry, many locals are on the opposite corner.
Despite the significant interest in crypto, the nation does not have its own exchange, and locals rely on foreign platforms such as Binance, FTX, and Kraken. Shortly after Russia’s invasion of Ukraine, though, some trading venues applied certain restrictions. Binance, for example,Amidst the controversy, Anatoly Aksakov – a top executive at the lower house of the Federal Assembly of Russia – hinted that the launch of a domestic crypto exchange might be on its way.
that such an organization should be monitored by the central bank and provide services under the latter’s “strict requirements.”He also thinks that a potential Russian crypto platform should be based on the standards of the Moscow Exchange : “And this division, which will work within the framework of a respected organization with great traditions, accustomed to actively interacting with the Central Bank, in my opinion, will best of all cope with the task of carrying out operations with cryptocurrency.”Regulations in the cryptocurrency sector have been a highly controversial topic in Russia in the past few months.
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