Moscow Exchange Withdraws from Pilot Crypto Program

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Reasons for Moscow Exchange's Withdrawal
  2. New Legal Status of Cryptocurrencies in Russia
  3. Plans for Digital Currency Development in Russia


    4. The Moscow Exchange, Russia's largest exchange group, confirmed its decision not to participate in a pilot cryptocurrency trading program, despite new legislative measures allowing digital currencies under the supervision of the Central Bank of Russia.

    Reasons for Moscow Exchange's Withdrawal

    The decision to withdraw from the pilot program was confirmed by Nikolai Trunichkin, head of digital projects at the Moscow Exchange. While the Saint Petersburg Stock Exchange will continue with the pilot, the Moscow Exchange is focusing on other digital projects such as blockchain and tokenization.

    New Legal Status of Cryptocurrencies in Russia

    The Moscow Exchange's decision to withdraw from the crypto pilot comes at a time when Russia is building a legal framework for digital currencies. New laws passed by the Russian State Duma aim to regulate cryptocurrency trading, with the Central Bank ensuring strict oversight over these digital assets.

    Plans for Digital Currency Development in Russia

    In addition to the cryptocurrency pilot, Russia is expanding its digital ruble pilot program. The Bank of Russia plans to include 9,000 individuals and 1,200 companies in this initiative, with full implementation expected by late 2025. Russia also plans to launch new cryptocurrency exchanges and stablecoin platforms in Moscow and Saint Petersburg to support international trade.

    Despite the Moscow Exchange's withdrawal from the pilot cryptocurrency program, Russia continues to actively develop digital currencies and new financial instruments to support and regulate the economy.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.