Russian Ministry of Finance Proposes Crypto Trading for Qualified Investors

IconCryptoNewsTerminal Staff12 Jul, 2024

cryptonews.jpg

Russian Ministry of Finance Proposes Crypto Trading for Qualified Investors

The Russian Ministry of Finance has proposed allowing qualified investors to trade cryptocurrencies on licensed exchanges, according to Vedomosti. This move would see crypto trading supported on exchanges registered with the Russian authorities, with cryptocurrencies treated as a commodity. The criteria for determining which investors will be eligible to trade cryptocurrencies have not yet been specified. However, Anatoly Aksakov, Chairman of the Duma financial market committee, stated that large Russian exchanges are prepared to launch cryptocurrency trading immediately if the necessary legal conditions are put in place. This proposal is a significant step towards regulating cryptocurrencies in Russia, and it could potentially open up the market to a wider range of investors. However, it is important to note that the proposal is still in its early stages, and it is unclear when or if it will be implemented.

Related News