Russian Stock Exchange Denies Crypto Trading Plans

by Giorgi Kostiuk

2 years ago

Made with AI

Denial of crypto trading plans
Discussions among Russian officials
Regional cryptocurrency initiatives

The Russian Stock Exchange has denied recent reports that it is preparing to launch a state-run cryptocurrency trading platform. Despite this denial, discussions among senior Russian officials regarding the establishment of a state-run crypto exchange continue.

Denial of crypto trading plans

Earlier this week, rumors circulated that both the St. Petersburg and Moscow exchanges were planning to introduce crypto services. However, the St. Petersburg Currency Exchange has clarified that it has no such plans and remains focused on its existing financial products and services in the money and stock markets.

The reports that appeared in a number of media outlets that the St. Petersburg Currency Exchange plans to become one of the platforms for trading crypto assets are not true. Our approved development strategy is focused on developing our own products and services in the money and stock markets. They do not involve the provision of any services related to cryptocurrencies.Official Statement

Discussions among Russian officials

Despite this denial, there has been significant discussion among senior Russian officials about establishing a state-run crypto exchange. This comes as new laws set to take effect on September 1st will legalize industrial crypto mining and allow the use of cryptocurrency for international trade.

Regional cryptocurrency initiatives

Meanwhile, other regions in Russia are exploring the possibility of launching their own crypto exchanges. In the Republic of Tatarstan, a digital platform for a national crypto exchange is reportedly ready to go, supported by the local Ministry of Digital Development. This exchange, tentatively named the Tatarstan National Crypto Exchange, aims to control cryptocurrency transactions within Russia, ensuring transparency and proper taxation.

The situation around cryptocurrencies in Russia continues to develop, and despite the official denial by the St. Petersburg Currency Exchange, national and regional cryptocurrency initiatives remain a topic of active discussion.

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