Russia takes steps to establish its own cryptocurrency exchange.
Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in the billions of rubles, pointed out one of the participants in these efforts.
The plan is to introduce the necessary amendments to the country’s law “On Digital Financial Assets,” which went into force in January of 2021. It’s still the main piece of legislation regulating the country’s crypto space, although only partially.last week aim to legalize mining, while banning the circulation, exchange, and non-targeted advertising of cryptocurrencies in Russia, with the exception special “experimental legal regimes” allowing their use in payments for imports.
It makes no sense to say that cryptocurrencies do not exist, but the problem is that they circulate largely outside of government regulation.
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