Two crypto exchanges will appear in Russia — one of them will be based on the St. Petersburg Currency Exchange with a focus on foreign economic activity, while no decision has been made on the other. This was reported by Kommersant, citing informed sources.
The second platform may appear in Moscow. The question is being decided whether the Moscow Exchange infrastructure will be used as a basis or a separate platform will be created.
It is expected that exchange participants will focus on operations with stablecoins, in particular, based on the yuan and the BRICS currency basket.
According to BitRiver Deputy CEO for Communications Oleg Ogienko, "stable coins" can be interpreted as cryptocurrency. For this reason, certain difficulties arise - both technological in the Russian blockchain and in terms of asset convertibility, liquidity set, and binding to the means of collateral.
“There is a point of view that stablecoins are digital financial assets in terms of Russian legislation due to the presence of an emission center and an obligated party,” he added.
Yaroslav Shitsle, Head of the IT&IP Dispute Resolution Department at the Rustam Kurmaev & Partners law firm, explained that Federal Law No. 259 “On Digital Financial Assets” establishes the legal basis for the issuance and circulation of digital financial assets, but does not contain direct rules governing the activities of crypto exchanges.
“In this regard, there is still no clear and unified mechanism for their creation and operation,” the lawyer added.
