Russia is no longer moving forward with its plans to create a national crypto exchange. Instead, it will focus on formulating rules that will allow private companies to establish such exchanges.
The head of the State Duma committee on the financial market, Anatoly Aksakov, disclosed this to local media Izvestiya on May 29. According to Aksakov, the exchanges would be regulated by local regulations as they could be used to bypass sanctions.
The report suggested that the exchanges would be regulated by the Russian Central Bank, which would introduce new regulations for their operations before the end of the year.
In November 2022, CryptoSlate reported that Russian lawmakers were working on a draft amendment bill allowing the country to launch a national crypto exchange.
Russia’s crypto stakeholders support the decision
Several crypto stakeholders within the country believe this approach would benefit all parties.
The Director for Government Relations at BitRiver, Oleg Ogienko, highligh
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