Ministry of Finance of the Russian Federation: foreign cryptocurrency exchanges are not ready to open a legal entity in Russia – Bits Media

Director of the Financial Policy Department of the Ministry of Finance of the Russian Federation Ivan Chebeskov said, that “landing” of foreign cryptocurrency exchanges is now quite difficult.

Against the backdrop of Russia’s military operation in Ukraine and large-scale Western sanctions against Russia, the interest of cryptocurrency exchanges in opening legal entities in the country has noticeably decreased. Chebeskov made a corresponding statement, speaking at the Blockchain Life forum 2022:

“We understand, what “landing” foreign exchanges becomes unlikely. Just two months ago, foreign exchanges actively participated in these discussions, Including Binance, who were very interested in opening their own legal entities in Russia. Now, I think, этот интерес чуть-чуть подутих. Но в этой связи актуальность законодательного регулирования цифровых валют только выросла».

Чиновник заявляет, that Russian cryptocurrency users need regulation of this industry and protection of interests by the state. It is also necessary to work out the regulation of the mining industry, recognize it as a business activity.

At the same time, the Ministry of Finance, according to Ivan Chebeskov, is not going to create a nightmare for the digital asset industry. On the contrary, the department is going to make regulation “liberal and relatively free”. Это должно помочь развитию криптовалютных и майнинговых компаний в России. Especially, что блокчейн и цифровые активы имеют потенциал для структурного изменения традиционной финансовой системы.

"May be, это произойдет, may be, не произойдет. Мы точно не знаем, но мы, at least, хотим дать этому шанс», ― сказал Чебесков.

Recall, что недавно Минфин представил
доработанный законопроект «О цифровой валюте». The document is currently under consideration by the government.