Russian Federation prepares to launch national crypto-exchange

Members of the lower house of parliament of the Russian Federation are developing amendments to the current legislation of the country “On digital financial assets”. The amendments provide creation of legal basis for launching national exchange of cryptocurrencies.“It makes no sense to say that cryptocurrency does not exist, but the problem is that it circulates in a large flow outside of state regulation. This is billions of rubles of lost budget revenues in the form of taxes,” said a member of the Committee on Economic Policy Sergey Altukhov.In June, Anatoly Aksakov, head of the Duma Committee on Financial Market, suggested launching a national crypto-exchange in Russia as part of the Moscow Exchange. In September, the Moscow Exchange prepared a bill on behalf of the Central Bank, allowing trading in digital financial assets.