Russian Central Bank Considers Cryptocurrency Trading at a Local Exchange

News and Analysis

According to Sergei Shvetsov, the first deputy chairman of the Bank of Russia, a local Russian exchange may start cryptocurrency trading.

Speaking at panel discussion Blockchain: the Birth of a New Economy at the St. Petersburg International Economic Forum, he said:

“There’s a project of a Russian exchange, which is about starting cryptocurrency trading. The discussion is about whether it is a commodity.”

Sergei Shvetsov did not specify which exchange he was talking about though.

Last month, the regulator put forward an initiative to consider cryptocurrencies a digital commodity. The Central Bank has also stated that the country’s Ministry of Finance, Ministry of Economic Development, and law enforcement agencies have supported the initiative.

Earlier this week, the head of Russia’s biggest state-owned bank Sberbank German Gref has also made several statements concerning the need to legalize and “neatly” regulate bitcoin.

Meanwhile, Russian parliament is allegedly preparing a bill legalizing electronic cash and establishing legal background for opening regulated cryptocurrency exchanges.

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