Russia is Developing a Mechanism for Phased Legalization of Crypto Exchanges

Anatoly Aksakov, Chairman of the State Duma’s Financial Market Committee, has stated that the legal launch of cryptocurrency exchanges in Russia could take place within two years, with the same experimental regime that applies to participants in the Islamic banking project.

He stressed that such exchanges would be for companies and citizens who need tools for export-import transactions with foreign counterparties.

Aksakov commented that he hopes the process can be completed by the autumn session, so the two-year experimental legal regimes for such activities can be legitimized and evaluated.

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