Russian Lawmakers Set To Introduce A National Crypto Exchange

November 24, 2022

Russian lawmakers are working on legislation to launch a national crypto exchange.

The Ministry of Finance and the Central Bank of Russia, who had different opinion on crypto regulation, are now proposing a legislation on it.

The amendments, which would lay down a legal framework for a national exchange, will first be presented to the central bank.

As per the local media reports on November 23, Russian lawmakers have been discussing about the state run crypto exchange platform.

Sergey Altuhov, a member of Duma’s Committee of Economic Policy, highlighted the fiscal sensibility of such measures.

Despite stringent International sanctions on Russian trading firms, several companies have been experimenting with crypto to bypass banks and the SWIFT messaging system.

The idea of launching an official crypto exchange is not entirely new in Russia. The country's MP had discussed the idea of allowing the Moscow Exchange to run a crypto trading platform back in June.