russia to create its own cryptocurrency exchange

The terrorist country has announced the launch of a national cryptocurrency trading platform that will place the digital asset class under state supervision. The Russian State Duma has begun working on a regulation to create an official Russian crypto exchange. In particular, the regulations being developed by Duma deputies include draft amendments that will be preceded by an analysis of the domestic crypto market. Once finalized, the regulations will be submitted for discussion to the government and the Bank of Russia.

The occupiers held talks with local cryptocurrency market players on the changes required for the law «On Digital Financial Assets,» though this was done without the participation of the Ministry of Finance. Commenting on this event, Serhiy Altukhov, a member of the Economic Policy Committee, said: «There is no point in saying that cryptocurrency does not exist — the problem is that it circulates in a large flow outside the scope of state regulation. This means billions of rubles of lost budget revenues in the form of taxes.»

According to the official, conditions should be created that would allow legalizing digital currencies and adjusting the «rules of the game» within the framework of the occupying country’s legislation that do not contradict the positions of the criminal government.

As a reminder, the central bank of the terrorist country is already testing the digital ruble. This is happening at a time when sanctions against Moscow over its aggressive military actions in Ukraine have cut off Russia’s access to the global financial market infrastructure. The world’s leading cryptocurrency exchanges are also blocking Russians — Blockchain.com, LocalBitcoins, Dapper Labs and Kraken, Coinbase-rozshyryla-spysok-rosiyan-yaki-pidpadayut-pid-blokuvannya-akauntu/">Coinbase, Crypto.com, Nexo, and BitMEX have already announced restrictions for the occupiers.