Russia plans to launch its own crypto trading platform similar to the Moscow Stock Exchange.

Anatoly Aksakov said the government is not opposed to the establishment of cryptocurrency exchanges in Russia. Aksakov is the Chairman of the State Duma Committee on Financial Markets. However, the entity must comply with strict central bank regulations and operate in the same way as the Moscow Stock Exchange, he said.

Russia could create a platform crypto.

The Russian government is taking an anti-crypto stance, especially the Bank of Russia. Still, many locals favor cryptocurrencies. Despite the strong interest in cryptocurrencies, the country does not have its own exchange and locals rely on foreign platforms such as Binance, FTX and Kraken. However, some shopping sites imposed certain restrictions soon after Russia invaded Ukraine.

Amid the controversy, Anatoly Aksakovtop leader of the Lower House of the Parliament of the Russian Federation (Duma state) expressed himself. He said thata national cryptocurrency exchange could be launched. However, he did not vote for such an organization to be regulated by the central bank and provide services in accordance with the latter’s “rigorous requirements”.

Furthermore, the news Russian crypto platform should be based on the standards of the Moscow Stock Exchangeaccording to the official. The latter is the largest stock exchange in the country, which operates a trading market for stocks, bonds, derivatives and precious metals. He argued that this would allow the platform to operate within the confines of the traditional financial sector. The platform will also work with the central bank to operate in the cryptocurrency space.

Bonus: The US Treasury Department is developing a framework for the international regulation of cryptocurrencies.

Cryptocurrencies should not cause the ruble to weaken.

Regulation of the cryptocurrency industry has been a hot topic in Russia for a few months. Indeed, the central bank is insisting on a complete ban on all attempts at digital assets. Nevertheless, the introduction of rules would be more appropriate noted the Ministry of Economy.

In June, Aksakov introduced a bill that would ban digital assets as payment methods. According to him, this approach will maintain the supremacy of the country’s national currency, the ruble:

“The ruble is the official monetary unit of the Russian Federation. The above article prohibits the introduction of other currency units or currency substitutes into the territory of the Russian Federation.

Read: Fed: Bank involvement in crypto could lead to financial instability.

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