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Russia’s Parliament is Developing a Bill on the Launch of a National Crypto Exchange

ByLouis Adams

Nov 24, 2022 #Russia
Reading time: < 1 minute

Russians will be able to purchase digital assets through brokerage applications. Such services are ready to launch financial companies after receiving the appropriate permission from the Bank of Russia.

In parallel, the Russian Parliament has started drafting a bill on the creation of a national cryptocurrency exchange, an initiative that is supported by both the government of Russia and the Central Bank.

Deputies of the lower house of Parliament held in mid-November talks with market participants, the purpose of which was to form a unified position on the issue of crypto regulation. Moreover, the deputies and businesses representing the blockchain industry agreed that the law “On Digital Financial Assets” needs to be amended.

The Bank of Russia and the Ministry of Finance did not take part in the negotiations.