Russia will have a national crypto operator
The platform will regulate the activities of Russian exchangers and exporters
19.04.2023 - 07:20
308
3 min
0
What’s new? Russia is developing a draft law allowing the creation of a national crypto operator. It will be a platform for the formation and maintenance of a register of crypto exchangers and exporters. In addition, the operator will license the activities of market participants and monitor compliance with regulatory requirements. Vedomosti reports with reference to Altukhov Sergey’s statements, a member of the State Duma Committee on Economic Policy.
News on the publication’s website
What else is known? According to Altukhov, with a national crypto operator, exporters will be able to sell their goods and use digital currencies in cross-border payments. This, in turn, will reduce dependence on global financial assets and increase the country’s financial sovereignty. In this, it is planned to allocate a separate OKVED (All-Russian Classifier of Economic Activities) code for miners, so they could conduct their activities in Russia.
Earlier, the Bank of Russia allowed the possibility of private firms to participate in the exchange of cryptocurrencies for the needs of FEA within the experimental legal regime. The Central Bank also expects that in the next 5–7 years, cross-border settlements will be possible in national digital currencies, and the digital ruble platform will be able to integrate similar assets of other states.
Russia’s average amount of crypto investments for 2022 was 17 500 RUB
The direction is in fourth place in popularity after deposits, securities, e-wallets, and NPFs
In late March, deputies discussed the creation of a national crypto exchange, but the implementation of the initiative requires a clear position of the Central Bank on the regulation of cryptocurrencies themselves.
Useful material?
Trends
As of January 21, the capitalization of this sector of the crypto market exceeds $519 billion
Jan 21, 2025
Market
The platform generated $9,5 million in revenue during the same time
Jan 20, 2025
Market
Shares of the Trust are designed to track the market price of XRP with fewer fees and expenses
Jan 17, 2025
Market
The asset will allow USDT to move seamlessly between different blockchains
Jan 17, 2025
Market
Earlier, the community criticized the project for its lack of transparency, which led to a sharp drop in the HYPE token price
Jan 8, 2025
Market
Rising US Treasury bond yields are negatively affecting risk assets
Jan 8, 2025