Bitcoin Move in Russia! Will They Establish an Official Cryptocurrency Exchange?

official in Russia cryptocurrency Exchange launch discussions were first voiced in June 2022 and positive statements came from some officials.

Russian lawmakers have created a bill and plan for the creation of an “official cryptocurrency exchange”.

According to local media reports, members of the Russian State Duma have begun drafting a proposal to set up a national cryptocurrency exchange in Russia.

According to reports, a source close to the State Duma confirmed that talks on the exchange have been ongoing since mid-November.

Sources stated that lawmakers and representatives of the Russian crypto industry continue to meet.

It was stated that the Ministry of Finance and the Central Bank have not yet participated in the talks.

After the deputies prepare the bill, it is expected to present it to the government and the Central Bank.

The Russian government is uncomfortable with the billions of untaxed dollars circulating on cryptocurrency exchanges and therefore wants to regulate this space.

In addition, the USA’s sanctions against Russia and pushing it out of the Swift system contributed to the increase in the sympathy towards cryptocurrencies in the country.

It is considered that cryptocurrencies can be a good alternative for Russia, which has difficulties in making and receiving payments in international trade. Although there is no official statement on this subject yet, Russia’s desire to establish its own cryptocurrency exchange shows that this option is still on the table.