According to TechFlow, the Russian Ministry of Finance proposed allowing a group of “particularly qualified” investors to trade digital currencies on authorized exchanges such as the Moscow Exchange and the St. Petersburg Exchange.
Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, said that Russia’s largest exchanges are ready to process cryptocurrency transactions. Once the legal conditions are established, these exchanges will be able to start cryptocurrency trading immediately.
The Ministry of Finance’s proposal includes trading in digital currencies on exchanges and trading systems registered with the central bank. Currently, the register includes seven companies: Moscow Exchange, St. Petersburg Exchange, St. Petersburg International Commodity Exchange (SPIMEX), St. Petersburg Currency Exchange (SPCE), Oriental Exchange, National Commodity Exchange and CTS Exchange.
The Ministry of Finance proposes to establish special regulations for "particularly qualified" investors, allowing digital currency transactions with a trading system license. The proposal also suggests that within the general regulatory framework, digital currencies can be recognized as monetary value, allowing them to be used as a means of payment in foreign trade agreements.
Currently, the State Duma is considering a bill that would authorize the central bank to begin creating an experimental cryptocurrency platform for international settlements starting September 1.