Russia Might Launch a National Crypto Exchange

Russia Might Launch a National Crypto Exchange

Local lawmakers in Russia are examining and working towards launching a national crypto exchange with support from the Ministry of Finance and the Central Bank of Russia.

The Bank of Russia recently announced plans to regulate blockchain and NFT usage nationwide.

According to Russian reports, the country is heavily considering creating a “national crypto exchange” while members of the Duma (the lower house of the Federal Assembly of Russia) are also thinking of moderating the current crypto laws. 

Sergey Altukhov, a member of the Duma, officially confirmed Russia’s plans to create a national exchange by saying:

“It makes no sense to say that cryptocurrencies do not exist, but the problem is that it circulates in a large stream outside of government regulation. These are billions of rubles of lost budget revenues in the form of taxes.”

Sergey Altukhov

What do you think? Will Russia create a national crypto exchange and regulate cryptocurrency? Stay here to learn more facts when we will know!