Russia to Establish at Least Two Cryptocurrency Exchanges and Issue New Tokens
Two new crypto exchanges are planned to be established in Russia, in Moscow and St. Petersburg.
The purpose of these exchanges is stated to be to support foreign economic activities (VEB). Legal experts predict that these exchanges will probably be established within the framework of an experimental legal regime.
Two exchanges to be established
According to Kommersant, at least two crypto exchanges are planned to be established in Russia. It was stated that the infrastructure of the St. Petersburg Monetary Exchange (SPVB) will be used for VEB.
It was reported that a second platform is planned to be established in Moscow, but it has not yet been decided whether this platform will be based on the infrastructure of the Moscow Stock Exchange (MOEX) or will be an independent structure.
It is thought that in the experimental phase, these exchanges will first be used by a limited number of users, and later they will be used by large exporters and importers, i.e. âsubsidiariesâ of large companies and business circles.
New tokens to be created
Plans include stablecoins based on the BRICS basket of currencies, as well as stablecoins based on the Chinese Yuan.
According to BitRiver Communications Manager Oleg Ogienko, the legal status of stablecoins as cryptocurrencies could create difficulties for Russian blockchain technology in terms of both technology and liquidity.
Important Note: Friends, Binance has launched a reward event worth 50,000$ . You can now benefit from the reward by clicking on the Artificial Intelligence AI account and scoring it from the "Vote" option.
The event ends on August 29. You can benefit from rewards worth 50,000$ by voting every day until August 29.
