SPB Exchange will launch cryptocurrency trading after its legalization

release of tsfa (tokens with various collateral) in the Russian Federation
release of tsfa (tokens with various collateral) in the Russian Federation

If the relevant laws are adopted in Russia, St. Petersburg Exchange is ready to launch trading in Bitcoin and other cryptocurrencies, said the head of the platform, Roman Goryunov, at the NAUFOR conference. TASS reports this.

“The world of cryptocurrency will one day merge with the world of traditional financial instruments. […] When cryptocurrency is allowed in the Russian Federation, we will be the first to trade it,” he emphasized.

The head of the exchange recalled that in 2017 the company had already tried to launch a trading platform for digital assets.

In his opinion, it would be better for “10 million investors” to interact with Russian infrastructure than with a foreign company that provides “training services” in the local market.

Since January 2021, the Law “On Digital Financial Assets”, developed by the Bank of Russia, has been in force in the Russian Federation. It provides for a ban on paying for goods and services using cryptocurrencies. At the same time, the document recognizes such financial instruments as property.

Speaking about the new legislation, lawyers agreed that it is easier to abandon Bitcoin than to work according to such rules.

The 2022 sanctions did not soften the regulator’s mood. The Central Bank still advocates a complete ban on the circulation and mining of cryptocurrencies.

The Central Bank also presented its own proposals for regulation and sent them to the Ministry of Finance. They provide for a complete rejection of Bitcoin and fines of up to 1 million rubles for its use.

Let us recall that the Bank of Russia included “SBP Exchange” in the register of information system operators for the issuance of digital financial assets.

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