Russia’s Ministry of Finance is proposing a new regulatory approach that could allow established financial exchanges to manage digital asset trading for a limited group of investors, as reported by Interfax on July 10.
Under this proposal, special regulations would be crafted to oversee the trading of digital currencies, recognizing them as commodities. This would involve granting licenses to exchanges or trading systems specifically tailored for this purpose. Initially, access would be restricted to a select category of “highly qualified” investors, with the exact criteria yet to be defined.
Presently, Russia’s Central Bank has already licensed seven entities, including Moscow Exchange and St. Petersburg Exchange, capable of handling such transactions.
Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, noted these exchanges are prepared to integrate digital asset trading once the regulatory framework is established.
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