Russia is no longer moving forward with plans to create a national cryptocurrency exchange, instead focusing on developing rules that would allow private companies to set up such exchanges.
On May 29, Anatoly Aksakov, chairman of the Russian State Duma’s Financial Markets Committee, revealed that these exchanges will be regulated by local regulations. Related reports suggest that these exchanges will be regulated by the Russian Central Bank, which will introduce new regulations for the operation of these exchanges by the end of this year.
Earlier in November 2022, Russian lawmakers were working on a draft amendment to allow the country to launch a national cryptocurrency exchange. (Crypto Slate)