Russian lawmakers are working on a draft amendment bill enabling the country to launch a national crypto exchange, local media Vedomosti reported on Nov. 23.
An unnamed participant in the discussions revealed that the lawmakers were in touch with market stakeholders on the amendments needed for the country’s crypto regulations. According to the report, the legislators want a draft document that considers the market players’ position before submitting it to the higher authorities.
The draft would need to get the approval of the Russian Central Bank alongside the country’s Ministry of Finance.
With this plan, Russia seeks to bring cryptocurrencies under state control. A member of the Committee on Economic Policy, Sergei Altukhov, said:
“It makes no sense to say that cryptocurrencies do not exist, but the problem is that it circulates in a large flow outside state regulation.”
Althukov added that there was a need to create conditions that would make cryptocurrencies legal in th
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