TechFlow reported, citing Russian media Izvestiya, that Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, revealed Russia has abandoned its plan to create a national cryptocurrency trading platform. Instead, it will establish regulations allowing private companies to build such platforms.
These exchanges would assist businesses with cross-border settlements, although the new rules may impose certain restrictions. Implementing this mechanism aims to reduce risks related to sanctions and cyberattacks while promoting competition. The Central Bank of Russia may oversee the operations of cryptocurrency exchanges.
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