Russia Gets Serious About Crypto, Plans State Exchange Rollout

The Russian authorities intend to launch the exchange of encrypted currencies for investors who are estimated at the network in the country only, which is a change in the direction of the country in dealing with digital assets.

The central bank relaxes a position in the digital currency market

Finance Minister Anton Selwanov announced at the ministry’s board meeting that his ministry will cooperate with the Central Bank of Russia Open the encrypted currency trading platform. This stock exchange will have a demo legal framework and meet the needs of “highly qualified investors”. Celuanov explained that this aims to “legalize encryption assets and remove encryption operations from shade.”

The advertisement represents a major shift in the central bank policy, which has long been opposed to the adoption of the cryptocurrency. The bank submitted a proposal on March 11 to the government to allow the currency currency trading by a new group of investors who are in a very good position.

Only the rich ultra -demand need

According to reports, the government is scheduled to reach the new encryption exchange of people with distinct wealth. The central bank suggested this A highly qualified investor The situation will be booked only for those whose investments in securities and deposits exceed more than 100 million rubles (about a million dollars), or whose income in the past year exceeds more than 50 million rubles (about 500,000 dollars).

Othman Kabaliv, deputy director of the Ministry of Finance at the Ministry of Finance, told the Blockchain Forum that rehabilitation requirements are still for discussion. He said, “We are still discussing these things. We also expect an active discussion with the deputies,” adding that the deputies have shown interest in an active role in development.

The strict rules will rule the new trading platform

The experimental legal framework (ELF) began the cryptocurrency currencies to form a law to allow the Central Bank to test a pilot for foreign settlements using the encrypted currency last year on September 1.

In March, Deputy Minister of Finance Ivan Chipskov suggested that the current exchange infrastructure can be used as a basis for currency trading under the experimental model. He also talked about openness to new players and trading platforms, but taking into account some licensing conditions. Chebeskov warned that the experiment will not start for at least six months.

Image: Gem Wallet

The cryptocurrency is still illegal for regular payments

Despite this opportunity Investors with high networksThe central bank against the cryptocurrency that is accepted as a means of paying in Russia is still. The bank has recommended that the settlements be prevented between the population in the coded currency outside the legal framework of the test and wishes to establish sanctions on violations.

Now, Russian citizens are allowed to purchase the cryptocurrency and possess it legally, but they are not allowed to use it for payments in Russia. The Russians have to rely on foreign drainage platforms because there is no central Russian encoded exchange.

Distinctive image from Unsplash, tradingvief chart

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