Two cryptocurrency exchanges are planned to be launched in Russia – Kommersant

According to Kommersant’s sources, one of the sites may be based on the St. Petersburg Exchange. It is not yet known whether the second crypto exchange will be created on the basis of the Moscow Exchange.

Another interlocutor clarified that the task is to create stable currencies for the yuan and, in general, for the BRICS currency basket.

In early August, the Russian Ministry of Finance assessed the state of cryptocurrency exchanges in the country as being in the grey zone.

“Now the only question that remains is additional regulation and the creation of our own legal crypto exchanges. This is still in the grey area. This is neither prohibited nor permitted,” Finance Minister Anton Siluanov commented at the time.

The head of the department clarified that specific legislative decisions on this issue will be prepared in the autumn.

Yaroslav Shitsle, head of the IT and intellectual property dispute resolution department at the Rustam Kurmaev and Partners law firm, recalled that today cryptocurrencies in the Russian Federation are regulated primarily through the provisions of the Law “On Digital Financial Assets”.

The law regulates the grounds for the issuance and circulation of digital financial assets. However, the document does not contain regulations on the operation of crypto exchanges.

“In this respect, there is still no clear and unified legal mechanism for the creation and operation of crypto exchanges,” says Schitzle.

In such conditions, regulation can be carried out through an experimental legal regime. According to Mikhail Uspensky, a member of the State Duma’s expert council on legislative regulation of cryptocurrencies, such a law has already been adopted.

Initially, a small circle of people will have access to the exchange, then large exporters and importers will be able to connect to the site, Uspensky predicts.

UPDATE: SPVB denied information that the site could become the basis for the creation of a crypto exchange.

“The approved development strategy focuses on the development of our own products and services in the money and stock markets and does not involve the provision of any services related to cryptocurrencies,” the press service noted.