The Russian authorities intend to launch a cryptocurrency exchange only for the highest net value of the country for investors, which is the direction of the state of handling digital assets.
The central bank relaxes the position of the digital foreign exchange market
Minister of Finance Anton Siluanov announced at a ministry council meeting that his ministry would cooperate with Russia's central bank Open Cryptocurrency Trading PlatformTo. This exchange has an experimental legal framework and offers only “highly qualified investors”. Siluanov explained that it was intended to “legalize cryptocurrencies and bring it out of the shade of cryptocurrencies”.
The announcement is a significant change in central bank politics, which has long been opposed to the reception of cryptocurrency. On March 11, the bank proposed to the government to allow cryptocurrency transactions by a new set of investors with a very good distance.
Only apply to crucial
According to reports, the government intends to restrict access to this new crypto exchange for people with outstanding wealth. The central bank suggested it “A highly qualified investor” The status would only be reserved for those whose investments in securities and deposits are over 100 million rubles (about a million dollars) or whose income per year exceeded $ 50 million (about $ 500,000).
Osman Kabaloev, Deputy Director of the Ministry of Finance of the Ministry of Finance, told the Blockchain Forum that qualification requirements are still discussed. “We are still discussing these issues. And we are also looking forward to the active discussion with the deputy,” he said, adding that parliamentary members have shown interest to participate actively in the development.
Strict rules regulate the new trading platform
Experimental legal framework of cryptocurrencies (ELF) began to form a law that allows the central bank to test foreign settlements using cryptocurrency using cryptocurrencies, entered into force last year on September 1st.
Deputy Minister of Finance Ivan Chebeskov suggested in March that the current exchange infrastructure could be used as the basis for cryptocurrency trade based on experimental model. He also told new players and trading platforms about opening, but on certain licensing conditions. Chebeskov warned that the experiment would not begin at least another six months.
Image: Gem Wallet
Cryptocurrency is still not legal for regular payments
Despite this possibility Investors with high net valueis still opposed to the central bank against cryptocurrency if Russia is accepted as a means of payment. The bank has recommended that the settlements be refused outside the test of the test for cryptocurrency residents and wants to impose sanctions of violations.
Russian citizens are now legally allowed to buy and have cryptocurrency, but they are not allowed to use it in Russia for payments. Russians must be based on foreign currency platforms because there is no Russian cryptocurrency exchange.
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