Russia’s State Duma discusses the creation of a national crypto exchange

Deputy Anton Tkachev said that such a platform would allow legalizing gray capital and receive additional contributions to the state budget

31.03.2023 - 10:10

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3 min

What’s new? The State Duma of the Russian Federation is discussing the creation of a national cryptocurrency exchange. However, according to Anton Tkachev, a member of the Duma Committee on Information Policy, Information Technology, and Communications, it is “useless” to talk about the implementation of the idea without the Central Bank’s position on the regulation of digital assets itself. He told this to the Prime agency.

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What else did Tkachev say? The deputy said that the Russian crypto exchange should be necessarily national, created “jointly with the bank, which will have the maximum percentage of shares owned by the state.” According to Tkachev, such a platform will allow not only legalizing the gray capital but also to receive additional contributions to the budget.

In addition, Tkachev stressed that the national crypto exchange will allow sole proprietors to enter into contracts with friendly countries more easily. Thus, citizens will be able to buy real estate or cars, which will affect the growth of purchasing power and help develop the empty square meters of housing, he noted.

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As for the recognition of cryptocurrencies as a means of payment, Tkachev said that this is out of the question for now. He specified that only the ruble may be the legal tender in the Russian Federation.

In December, deputy Anatoly Aksakov allowed the possibility of launching the Russian crypto exchange in the second quarter of 2023. And in March, Alexander Brazhnikov, executive director of RACIB said that Russia and Iran may create a joint national crypto exchange in the international Association of digital economy.

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