News Explorer — Russia Drops Plans for State-Run Crypto Exchange

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May 29, 10:24 pm

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Russia Drops Plans for State-Run Crypto Exchange

Russian lawmakers have decided to end plans for creating a state-owned cryptocurrency exchange, instead focusing on developing rules that would allow private companies to set up such trading platforms, overseen by Russia's central bank. Private sector operators have expressed positive views, as the move could help minimize risks of sanctions and cyber attacks, and allow for more competitive and innovative companies to develop.

Russian lawmakers have decided to end plans for creating a state-owned cryptocurrency exchange, instead focusing on developing rules that would allow private companies to set up such trading platforms, overseen by Russia's central bank. Private sector operators have expressed positive views, as the move could help minimize risks of sanctions and cyber attacks, and allow for more competitive and innovative companies to develop.

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