State Duma of the right to create a Russian crypto exchange

Deputies of the State Duma have begun the implementation of a draft amendment to create and regulate a national crypto exchange in Russia.

They have already discussed with market participants the changes required for this in the law “On Digital Financial Assets”. The future document will be submitted for discussion in the government and the Bank of Russia.

It makes no sense to say that cryptocurrencies do not exist, but the problem is that it circulates in a large stream outside of government regulation. These are billions of rubles of lost budget revenues in the form of taxes.

— Member of the Economic Policy Committee Sergey Altukhov

All crypto exchanges popular with Russians, including Binance, have been borrowing all this time in foreign jurisdictions. Because of the stop, they began to restrict the actions of wallet owners.

Now the deputies are discussing algorithms for creating a domestic crypto exchange.