Russian Legislators Defend the Creation of Legal Cryptocurrency Exchanges
Moscow – Deputies from the liberal New People party presented a proposal to the Central Bank of Russia (CBR) to legalize cryptocurrency exchanges in the country.
Licensed network
Parliamentarians Anton Tkachev, Yaroslav Samylin, and Georgy Arapov suggest the creation of authorized platforms with a physical presence and minimum capital requirements. According to them, the measure would reduce illegal transactions and increase trust in financial institutions.
Pressure on the CBR
The request challenges the position of the Central Bank, historically opposed to broad access for the population to digital currencies. Legislators claim that regulated exchanges could offer more security to users and monitoring tools to the State.
Uncertain regulation
Despite the proposals, Russia has not yet defined the future of cryptocurrencies. Currently, legal use is restricted to pilot projects in foreign trade. In May, the CBR authorized investments only through derivatives and for qualified investors. The Ministry of Finance also plans to launch a crypto-assets exchange, similarly limited to this audience.
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