Russia Takes a Step Back Regarding Cryptocurrency! Eyes on the Central Bank!

Bitcoin (BTC) And cryptocurrencyUndoubtedly, Russia is among the countries that could not reach a clear decision on the status of these countries.

Finally, in line with the idea of ​​​​establishing a national cryptocurrency exchange, Russian lawmakers were preparing a draft amendment to the law “On Digital Financial Assets”.

But Russia’s local news agency IzvestiaAccording to the news of Russia, a cryptocurrency He gave up on the idea of ​​establishing a stock market.

Instead of establishing a national cryptocurrency exchange, Russian authorities preferred to establish regulations for the development and operation of such platforms.

speaking to Izvestia Anatoly Aksako, chairman of the State Duma financial market committeev said that cryptocurrency exchanges may become subject to certain restrictions as they make it easier to circumvent cross-border settlements, including by circumventing enforcement restrictions.

Aksakov stated that Russia gave up the idea of ​​​​establishing a national cryptocurrency exchange against the risk of this restriction.

“It would be more beneficial to introduce regulations rather than establishing a national cryptocurrency exchange.

Because I remain optimistic that the introduction of new regulations will create opportunities for emerging organizations.”

Aksakov’s statement Central Bank of RussiaHe also stated that he predicts that the cryptocurrency exchanges will take on the role of regulating.

Aksakov also stated that the Ministry of Finance does not support the establishment of a new national crypto exchange, but instead proposes a legal framework to allow other businesses to create such platforms.

Finally, Alexei Guznov, vice-president of the Central Bank of Russia, who previously spoke to Izvestia, said that it is still too early to talk about the national cryptocurrency exchange.

*Not investment advice.