Russia Mulling the Idea to Build a Crypto Platform on the Moscow Stock Exchange

Russian lawmakers are considering the possibility of creating a cryptocurrency trading platform as an offshoot from the Moscow Stock Exchange. 

Anatoly Aksakov is the head of the State Duma Committee on the Financial Market revealed This was stated in a Press Conference. It was noted that the Moscow Stock Exchange affiliation will allow the platform to make digital asset transactions.

Russia’s relationship with the cryptocurrency ecosystem has been bitter-sweet for quite a while, with the nation entering 2022 with the plan to ban digital currency-related activities. The outbreak of war in Ukraine caused things to change. Russia’s anti-cryptostance has been reaffirmed by major Western countries over the last few months, due to the sanctions.


Any possible crypto exchange will be held on the Moscow Stock Exchange. This is to ensure that any new offshoot follows all regulations, including those of the Central Bank of Russia.


“Of course, there should be a crypto exchange, which, again, is created according to the strict requirements of the Central Bank. I admit that this is a division of the Moscow Exchange,” Aksakov said during the press conference. “And this unit, which will work within the framework of a respected organization with great traditions, accustomed to actively interacting with the Central Bank, in my opinion, will best of all cope with the task of carrying out operations with cryptocurrency.”


Russia’s bullish moves into the digital currency ecosystem have been more visible over the past few months with the country’s bank, VTB complementing the first-ever commercial paper tokenization reported Blockchain.News reported back in June


Although there have been no Confirmation The new cryptocurrency trading platform is not yet live. This move represents Russia’s latest attempt to find a financial system to alleviate its financial sanctions against its citizens.

Image source: Shutterstock



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