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Moscow Stock Exchange works to create infrastructure for electronic commerce , such as currency Alpetkoan. Where the exchange plans to trade e-currencies, in addition to the derivatives and trade revenues on the exchange (ETFs) based on them. The announcement is soon followed by Deputy Finance Minister Alexei Moiseef's plan to treat digital currency as a financial asset.
The Moscow Stock Exchange is adopting electronic currency
The Moscow Stock Exchange is working to establish an electronic currency trading infrastructure, the Russian news agency Tass said at a news conference with the bourse. Where the newspaper quoted as saying:
"We are already working to create an infrastructure for such transactions [electronic currency], in particular, we are creating a platform for post-trading of encrypted assets."
The Moscow Stock Exchange is the largest exchange group in Russia. It manages trading markets in stocks, bonds, derivatives, the foreign exchange market, money markets and precious metals. It also manages the Central Securities Depository in Russia, in addition to being the largest provider of clearing services in the country. The press conference said that the exchange is currently in talks with regulatory bodies to clarify all legal issues related to how electronic currency trading in the Russian exchange market, in order to protect the interests of buyers.
Trading tools to be provided
The exchange platform of the Moscow Stock Exchange will offer a number of trading tools, including derivatives and returns on ETFs, as well as electronic currencies themselves, as explained by the Russian business radio "BFM". Where the stock exchange said:
"We are ready to regulate the trading in financial products requested by bidders and their customers that provide adequate legal protection ... On the stock exchange, it is possible to trade the same electronic currency, as well as trading the stock exchange returns in electronic currencies."
According to the Russian news agency Tass, it has also been announced that there is a second stock exchange of traditional securities in Russia considering the addition of trading through electronic currency to its program. The Saint Petersburg Stock Exchange is also the third most active stock exchange in Russia in terms of volume, and is also the largest outside Moscow.
Russia's efforts to control electronic currency
The exchange moves are in line with the recent announcement by Russian Deputy Finance Minister Alexei Moiseev about his proposal to treat Pitcairn and other digital currencies as financial assets. In an interview with Russian television channel NewsBitcoin.com, he said that he proposed restricting electronic currency trading to eligible investors only. On Monday, UNICEF said it was in discussions with the central bank as well as the Moscow Stock Exchange on electronic currency controls and trade. During the press conference, the exchange agreed with the Deputy Minister of Finance, noting that electronic currency trading on its platform would be available only to qualified investors, TAS news agency reported. At the same time, Russia is still in the process of drafting a digital currency regulation, including how to define it. The adoption of the bill on electronic currency had reportedly been delayed by ongoing discussions on its classification.