Russian exchanges enter the cryptocurrency market…"Trading may start as early as next year"
Summary
- Major Russian stock exchanges said they plan to offer cryptocurrency trading services starting next year.
- The Russian central bank is preparing new cryptocurrency regulations, and reported that the related regulations will take effect from July 1 next year.
- The exchanges said they plan to enter the market via cryptocurrency service solutions as soon as the regulations are in place.
Major Russian stock exchanges are entering the cryptocurrency market.
On the 25th (local time), according to Cryptopolitan, the Moscow Exchange (MOEX) and the Saint Petersburg Exchange (SPB) plan to support related trading services immediately once Russia's cryptocurrency-related regulations take effect next year. The Moscow Exchange said, "We are actively preparing cryptocurrency service solutions," and added, "(Once the authorities) establish the relevant regulations, we will begin cryptocurrency trading immediately."
Russia is set to allow cryptocurrency trading as early as next year. To this end, the Central Bank of Russia (CRB) is reportedly preparing new cryptocurrency regulatory measures.
According to the legislative amendment submitted by the Central Bank of Russia to the government, the regulatory framework for digital assets such as cryptocurrencies is expected to be reorganized by the first half of next year. Cryptopolitan reported that "(the Central Bank of Russia's) plan will take effect from July 1 next year once it receives government approval and passes through Moscow's bicameral parliament."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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