Russian cryptocurrency exchange under a conventional operating scheme

A new and controversial scenario is developing on Russian soil, and according to recent statements by important authorities of the Eurasian giant, a cryptocurrency exchange will be created in Russia under a conventional operating scheme.

However, Russia has long been a contradictory country in relation to the adoption of cryptocurrencies as tools for economic and financial exchange, since on the one hand it has maintained different positions of different organizations that do not end up agreeing.

Adding to the pile of contradictions, Anatoly Aksakov, MP and head of the Financial Markets Committee, has proposed that Russia establish a dedicated exchange to conduct cryptocurrency transactions locally, stating that the new platform can be hosted by the Moscow Exchange (MOEX).

En-Business

Anatoly Aksakov has been involved in ongoing efforts to adopt a comprehensive regulatory framework for cryptocurrencies, believes that a Russian digital asset exchange will be in the best position to process cryptocurrency transactions in the country.

During a press conference Aksakov expressed that in Russia there should be a crypto exchange, created in accordance with the strict requirements of the central bank, which would be an appendage of some division of the Moscow Exchange

This new event may be related to Russian government institutions have been working on new legislation to expand the rules for cryptomarketing in Russia, and most of them oppose a proposal by the Bank of Russia for a ban on cryptocurrency-related activities.

SOURCES CONSULTED

News.Bitcoin Proposal to Set Up Russian Crypto Exchange Circulated in Moscow. Link

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Hello @lupafilotaxia, I believe that with this positive development Russia is seeking to "oxygenate" its economy, they are desperately looking for a light at the end of the tunnel, they need to somehow dispose of funds even if they come from cryptocurrencies, for the citizens of Russia this is totally positive and favorable

Hello @tocho2

That's right, I think this proposal is going in the right direction, let's hope they can concretize it in time.

Best regards, be well.

Good content keep it up you are great

Hello @mina11

Thank you for your positive comment.

Best regards, be well.

Thank you also ..
I followed you please follow back

Hi @lupafilotaxia
It has always been said that wars serve to advance medicine, weapons technology and so many other things. Perhaps this is another case, where the current context Russia has seen how cryptocurrencies have helped it to solve some restrictions imposed by the West.

Hi @josevas217

Let's look at it that way, certainly this proposal is a positive side that came out of the war.

Best regards, be well.

The recent war combined with the unprecedented west sanctions seems to have pushed Russia to be more open about crypto...As you said, Russia is a contradictory country, but I bet other countries will follow suit soon and will be more persistent

thanks for sharing :)

Hi @qsyal

It would be good if other countries follow this example.

Best regards, be well.

This is an interesting development however in the light of previous divergent views on the matter it remains to be seen how much freedom the people would get and the opportunities to grow their crypto.
interesting post my friend.

Hi @thetimetravelerz

You are right, the point now is to see how they will implement legal structures that will facilitate operations and not become a conventional scheme full of restrictions.

Best regards, be well.

Interesting development. I feel like Russia is trying to explore new ways with the current situation of their economy and all of those sanctions that they are getting hit with. I am curious to see whether this will help crypto in term of adoption or whether it will harm it more because the West will try to do the opposite to Russia.

Hi @ga38jem

Good point, one would have to evaluate the reactions of the west to this issue.

Best regards, be well.