{"id":22223,"date":"2022-07-08T11:01:00","date_gmt":"2022-07-08T11:01:00","guid":{"rendered":"http:\/\/egrowonline.com\/?p=22223"},"modified":"2022-07-08T11:01:00","modified_gmt":"2022-07-08T11:01:00","slug":"proposal-to-set-up-russian-crypto-exchange-circulated-in-moscow-exchanges-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=22223","title":{"rendered":"Proposal to Set Up Russian Crypto Exchange Circulated in Moscow \u2013 Exchanges Bitcoin News"},"content":{"rendered":"


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Russia may establish a dedicated exchange to carry out cryptocurrency transactions locally, a high-ranking member of the State Duma has suggested. The new platform can be hosted by the Moscow Exchange, according to Anatoly Aksakov, head of the parliamentary financial market committee.<\/strong><\/p>\n

Russian Authorities Mull Creating Domestic Cryptocurrency Exchange<\/h2>\n

A crypto trading platform may be established at the Moscow Exchange (MOEX), according to a statement by Anatoly Aksakov, who chairs the Financial Market Committee at the State Duma, the lower house of Russian parliament.<\/p>\n

The lawmaker, who has been involved in the 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 crypto transactions in the country.<\/p>\n

MOEX<\/a> is the largest Russian exchange, which facilitates trading of equities, bonds, derivatives, precious metals and operates Russia\u2019s forex market, central securities depository and the country\u2019s largest clearing service provider.<\/p>\n

The exchange suspended trading following the Russian invasion of Ukraine on Feb. 24. It also became a target of western sanctions imposed on Russia over military conflict. MOEX opened almost a month later, on March 21, but only for state bonds.<\/p>\n

\u201cOf course, there should be a crypto exchange, created according to the strict requirements of the central bank. I assume this will be a division of the Moscow Exchange,\u201d Aksakov was quoted by Prime news agency as stating during a press conference.<\/p>\n

He elaborated that this will ensure the Russian crypto trading platform will operate \u201cwithin the framework of a respected organization with great traditions,\u201d which is accustomed to actively interacting with the Central Bank of Russia, allowing it to \u201cbest of all cope with the task of carrying out operations with cryptocurrency.\u201d<\/p>\n

Russian government institutions have been working on new legislation to expand the rules for the country\u2019s crypto market, with most of them opposing a proposal<\/a> by the Bank of Russia for a wide-ranging ban on crypto-related activities, including trading.<\/p>\n

Lawmakers are expected to review and adopt a new bill \u201cOn Digital Currency\u201d this fall, which should regulate cryptocurrency operations. In a recent interview, Aksakov indicated<\/a> this is likely to be a \u201ctough\u201d law, despite the monetary authority in Moscow softening its stance on certain aspects, including crypto payments as a tool for international settlements.<\/p>\n

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Aksakov<\/a>, bill<\/a>, Crypto<\/a>, crypto exchange<\/a>, crypto trading<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Cryptocurrency Exchange<\/a>, Digital Assets<\/a>, Digital Currency<\/a>, draft law<\/a>, Exchange<\/a>, Law<\/a>, lawmaker<\/a>, Legislation<\/a>, Moscow<\/a>, moscow exchange<\/a>, Regulation<\/a>, Russia<\/a>, russian<\/a>, trading<\/a><\/div>\n<\/div>\n

Do you think Russia will establish a crypto trading platform under the Moscow Exchange? Share your expectations in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Stanley Kalvan<\/em><\/p>\n

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