FX.co ★ Crypto exchange could be founded in Russia in near future

A high-impact event for crypto investors is on the horizon in Russia. The event is expected to have an impact on the dynamics of digital assets. According to Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, the lawmakers could greenlight the establishment of a national cryptocurrency exchange in the second half of this year.

The high-ranking official stated that there are "potential participants in this process in Russia, but mechanisms for their admission and oversight need to be developed." From his viewpoint, creating a domestic cryptocurrency exchange "should not be heavily publicized" to avoid attracting the attention of fraudsters. He believes that such individuals might attempt to disrupt the activities of new institutions.

Besides, Anatoly Aksakov underscored the importance of developing legal enforcement practices. "These will be needed for further comprehensive regulation of the issuance and circulation of digital currencies in the country," the Chairman of the State Duma Committee on the Financial Market added.