Moscow Exchange Prepares to Trade Cryptocurrency – Bitcoin News

The Moscow Exchange is creating an infrastructure to trade cryptocurrencies such spil bitcoin. The exchange plans to trade cryptocurrencies spil well spil derivatives and exchange-traded funds (ETFs) based on them. This announcement closely goes after the project by Deputy Finance Minister Alexei Moiseev to regulate bitcoin spil a financial asset.

Moscow Exchange Embraces Cryptocurrency

The Moscow Exchange is reportedly working on creating an infrastructure for cryptocurrency trading, the Russian state-owned news agency Tass wasgoed told at a press conference held by the exchange. The exchange wasgoed quoted telling:

Wij are already working on creating an infrastructure for such [cryptocurrency] trades, ter particular, a toneel for post-trading services for crypto assets.

Moscow Exchange is the largest exchange group ter Russia. It operates trading markets te equities, bonds, derivatives, the foreign exchange market, money markets and precious metals. It also operates Russia’s central securities depository and the country’s largest clearing service provider.

Presently, the exchange is te talks with regulators to clarify all legal issues related to how it can trade cryptocurrencies on the Russian exchange market and to protect the rente of their purchasers, the press conference exposed.

Trading Instruments to Be Suggested

Moscow Exchange’s cryptocurrency toneel will opoffering a number of trading instruments including derivatives and ETFs based on cryptocurrencies, spil well spil cryptocurrencies themselves, detailed Russian business publication BFM. The exchange stated:

Wij are ready to organize trading ter financial products for which there is a request from bidders and their clients and which provide sufficient legal protection…On the stock exchange, it is possible to trade both the cryptocurrencies themselves and derivatives on them, spil well spil trading stock exchange funds on cryptocurrencies.

A 2nd traditional stock exchange te Russia is also reportedly considering adding cryptocurrency trading to its verhoging, according to Tass. St. Petersburg Stock Exchange is the third-most active stock exchange ter Russia by volume, and the largest outside of Moscow.

Russia’s Efforts to Regulate Cryptocurrency

The exchanges’ moves are te line with the latest announcement by Russian Deputy Finance Minister Alexei Moiseev regarding his proposal to treat bitcoin and other cryptocurrencies spil financial assets.

News.Bitcoin.com reported on his vraaggesprek with Russia 24 TV channel, where he also proposed restricting cryptocurrency trading to qualified investors. Moiseev also exposed on Monday that he had bot te discussion with the central bankgebouw spil well spil the Moscow Exchange regarding cryptocurrency regulation and trading.

At the press conference, the exchange concurred with deputy finance minister, stating that cryptocurrency trading on its podium will only be permitted for qualified investors, Tass conveyed.

Meantime, Russia is still te the process of drafting regulation for digital currency, including how to define it. The draft bill wasgoed reportedly delayed due to ongoing discussions regarding its classification.

Do you think cryptocurrencies should be traded on the Moscow’s stock exchange? Let us know ter the comments section below? Let us know ter the comments section below.

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