Russia Drafts Bill to Legalize Cryptocurrency Trading on Approved Exchanges

The Russian Ministry of Finance is drafting a bill to legalize cryptocurrency trading at approved exchanges. The ministry is already preparing a list of approved trading platforms.

Some Exchanges Will be Legalized

Alexei Moiseev.

The Russian Deputy Finance Minister Alexei Moiseev told reporters that his ministry “supports the legalization of trade in crypto-currencies on official exchanges,” RNS reported on Thursday.

“We do not want to limit and regulate, but we will set some limits,” he emphasized, adding that “nothing will happen” to those already possess cryptocurrencies, the publication conveyed. The deputy minister was further quoted saying:

This is about the fact that buying and selling [of cryptocurrencies] will be somehow standardized. The general idea is that it will be necessary to buy and sell on official exchanges, as it will be declared, it will be legalized.

List of Legal Platforms Being Discussed

The Russian Ministry of Finance.

The bill for the regulation of cryptocurrencies and initial coin offerings (ICOs) was jointly presented at the end of December of last year by the ministry of finance and the central bank, as previously reported.

“Following the discussion at the public council, a number of comments were made, which we are now finalizing,” Moiseev was quoted by RNS. He clarified that his ministry plans to finalize the bill, “including the development of rules for the circulation of cryptocurrencies,” and submit it to the State Duma in February, Tass reported on Thursday.

Regarding which trading platforms will be legalized, Moiseev revealed:

We will now actively discuss this issue, [list of approved exchanges]. This issue is currently unresolved. The rest is more or less clear.


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