An official in the Russian State Duma is a member of the Moscow Stock Exchange, or MOEX. cryptocurrency announced its support for the establishment of the market.
“A Cryptocurrency Market Should Be Established in Russia in Compliance with the Rules of the Central Bank”
According to Interfax’s report, Anatoliy Aksakov said at a press conference on Thursday:
“Of course there has to be a crypto market built on the strict conditions of the central bank. I propose that it be a subdivision of the Moscow Stock Exchange.”
Aksakov went on to say that, under MOEX traditions and in cooperation with the central bank, such a market would “manage cryptocurrencies-related tasks better than any other.”
As the leader of the Russian State Duma Financial Markets Committee, Aksakov has long played a key role in the formulation of the country’s cryptocurrency policy.
Earlier this year, the Central Bank of Russia proposed a general ban on the crypto market, but the idea was withdrawn with the intervention of Russian President Vladimir Putin.
Then, as it is known, Russia invaded Ukraine. The resulting sanctions upset Russia’s markets, even causing MOEX to cease trading shortly after the invasion. Many leaders in sanctioned countries saw crypto as a way to evade those sanctions, despite their doubts that Russia could do this to any meaningful extent.
However, US officials are trying to circumvent Russia’s sanctions against them. bitcoin or crypto assets have reported that they have not taken any initiative for now.
*Not investment advice.