CBR is not ready for the legalization of trade in cryptocurrencies

The Bank of Russia rejected the proposal of the Finance Ministry to allow them to trade cryptocurrencies on the exchanges, said Deputy Finance Minister Alexei Moiseev.

«The CBR does not support regulation of trade in cryptocurrencies. Our proposal to legalize the cryptocurrency trading on the stock exchanges, the Central Bank does not support», – said Moiseev. According to him, the Finance Ministry is considering different options for selection criteria of the exchanges on which could begin trading in digital currencies, including geographical.

The Central Bank said that the question of allowing trade cryptocurrencies on the exchanges is in the process of discussion in preparation of the bill.

«We are ready to organize trading of financial products for which there is demand on the part of bidders and their clients, and which provide sufficient legal protection. However, like any other exchange-traded instruments, they must work exclusively within the Russian legal field,» – said Mosberg about ready to start trading cryptocurrencies.

The exchange also noted that, with regulatory and technical points of view faster and easier to implement the possibility to trade derivatives on cryptocurrencies, as did commodity exchanges in the United States.

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