Russia: the bill will allow transactions on "approved" exchanges

In recent weeks, we hear a lot about the imminent regulation of cryptocurrencies in Russia. This time, Putin's government is indeed on the verge of legalizing the trading of digital currencies, at least on some trading platforms.

A bill concerning a selection of exchanges
Cryptocurrency is really a topic that has become crucial in Russia, just like the government that seeks to regulate the sector. Remember Vladimir Putin's wish to put in place a regulatory framework around cryptocurrency transactions . We now know a little more about the famous bill on cryptos trading.

Russia is in the process of drafting a bill to allow the exchange of digital currencies in the country , and we have just learned that this will only concern some trading platforms.

According to recent statements by Deputy Finance Minister Alexei Moiseev, his ministry supports the legalization of crypto trading on "official exchanges" . This means that only exchange companies approved by the bill will have the right to legally trade cryptocurrencies.

The exchanges concerned remain to be determined
In his statement, Alexei Moiseev made it clear:

"We will set limits ... The purchase and sale of cryptocurrencies will be somehow standardized. The general idea is that it will be necessary to buy and sell on official stock exchanges. "

However, the deputy minister has not yet given the names of the "approved" platforms, simply because the list has not yet been established by the Ministry of Finance.

Moiseev explained on the subject:

"We will now actively discuss this issue [list of approved exchanges]. This problem is currently unresolved. The rest is more or less clear. "

Putin still "pro-crypto"
According to the TASS news agency, the bill, and thus the list of approved exchanges, is due to be finalized in February, when it will be submitted to the Duma (the lower house of the Russian Parliament). In the meantime, we know that those who already hold cryptocurrency will not be punished, according to Mr. Moiseev.

As for President Putin, he still confirms his position on cryptocurrencies ( he even ordered the creation of a crypto-national ), declaring at a press conference last Thursday that appropriate legislation will be necessary.

"We know that there is nothing behind cryptocurrency. It can not be a means of accumulation, there are no material values ​​behind it, it can be, to a certain extent and in certain situations, a means of quick and effective settlement. " Vladimir Putin