Moscow Stock Exchange

Moscow Stock Exchange Considered for Cryptocurrency Trading

Avatar Rick Delafont 2 years ago

According to a Russian politician, the nation’s central bank are currently considering the Moscow Stock Exchange for cryptocurrency trading purposes.

In an interview with Russia’s TASS, a state-owned media outlet, the head of the State Duma’s (the lower chamber of parliament) Financial Market Committee, Anatoly Alksakov, spoke of the plans:

“We have the St. Petersburg International Commodity Exchange, the Moscow Stock Exchange, the RTS, but they actually act as a non-profit partnership. Although they are also ready to participate in this process, and there are specialists in stock exchange operations there. I suppose that, the Central Bank is now considering the Moscow Stock Exchange, perhaps also the St. Petersburg Commodity Exchange for this purpose. But now there is a stronger urge to work with the Moscow Stock Exchange.”

The interview supports news from August of last year. It was widely reported that the Moscow Stock Exchange was building the necessary infrastructure to offer cryptocurrency trades. It seems that the exchange is trying to embrace digital currency as fully as possible. This is further evidenced by their push for approval of Bitcoin futures. However, last month, the nation’s central bank knocked back the proposal.

Meanwhile, Russian Deputy Finance Minister Alexei Moiseev recently stated that his office may join with the central bank to curate a list of stock exchanges well-suited for digital currency trading. He went on to hint that other marketplaces may also be permitted to oversee such activities.

Such developments highlight Russia as something of a hub for cryptocurrency. Thanks to its cheap electricity and generally cool climate, many miners have setup shop there. This is further supported by last month’s cryptocurrency bill. Proposed by Russian premier Vladamir Putin, the legislation seeks the taxation of cryptocurrency miners. This effectively legitimises such business activity in the State.

However, despite positive news, the world power continues to present a mixed message when it comes to cryptocurrency. Politicians who initially called for the launch of the “CryptoRuble” are now considering dropping the proposal. Perhaps more confusing for citizens there, Russian officials suggested that digital currencies should not be accepted as a conventional payment option.

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the...

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