Main Points Related to Bitcoin, Web3, Ethereum, and Cryptocurrency:
- Russia’s Ministry of Finance exploring allowing crypto trades on stock exchanges for qualified investors
- Initiative aligns with Prime Minister’s push for cross-border crypto settlements
- Potential approval of stablecoins for cross-border trades by Bank of Russia
Russia’s Ministry of Finance Considering Crypto Trades on Stock Exchanges
Russia’s Ministry of Finance, also known as Minfin, is reportedly working on a mechanism to permit crypto trading on stock exchanges for “highly qualified” investors. This move comes as the country moves closer to legalizing crypto payments for cross-border trades, aligning with regulatory complexities while still facing opposition from the Bank of Russia.
Prime Minister’s Push for Cross-Border Crypto Settlements
The initiative to facilitate digital currency trades in Russia aims to navigate regulatory complexities while enabling cross-border crypto settlements. Russian Prime Minister Mikhail Mishustin’s push for 2022 includes recognizing cryptocurrency as a commodity, a move suggested by the Minfin to address regulatory challenges effectively.
Bank of Russia’s Potential Approval of Stablecoins for Cross-Border Trades
Recent reports suggest that the Bank of Russia might be considering approving stablecoins for cross-border trades, particularly with China, as local businesses explore alternative methods amid sanctions. Central bank deputy governor Alexei Guznov mentioned the goal of regulating the process chain to enable individuals to utilize stablecoins for international payments seamlessly.
