The State Duma named the conditions for the emergence of a Russian crypto exchange

“I think that as the market develops, becomes more legal, that is, understandable both for the regulator and for market participants, then it will be possible to talk about the creation of a special Russian infrastructure that will trade cryptocurrencies.” the deputy pointed out.

In his opinion, “cryptocurrencies created or purchased” should only be used for settlements on foreign markets, but at the same time they can be “registered in the corresponding accounts” in Russian jurisdiction.

Aksakov said he was considering introducing a bill that would allow Russians to open accounts linked to cryptocurrencies and use them for payments abroad, but the Central Bank informed the deputy that this was already possible.

In August, Kommersant sources reported that Russia plans to launch at least two crypto exchanges to support foreign economic activity. For one of them they will use the base of the St. Petersburg Exchange House, and the second site should appear in Moscow. It has not yet been decided whether it will operate on the basis of the Moscow Stock Exchange or separately within the framework of the experimental legal regime (EPR).

Now Russians can buy and own cryptocurrencies, but they cannot use them for payments within the country. On September 1, the Central Bank launched an EPR for cryptocurrency settlements in foreign economic activity. For the experiment, as Vedomosti wrote, they created a focus group that included importers from among the members of the Chamber of Commerce and Industry and the Association of Electronics Developers and Manufacturers, as well as several banks.