Russian State Duma Deputy Aksakov: cryptocurrency trading in the Russian Federation will be regulated by November.
The Central Bank of the Russian Federation and the Ministry of Finance will develop the required regulations that will establish a list of participants involved in the process of trading cryptocurrency within the framework of the experimental legal regime (ELR). This was reported by the head of the State Duma Committee on Financial Markets Anatoly Aksakov.

“Trade will primarily be carried out by credit institutions. Banks are already actively involved in this process. In fact, cryptocurrency is now used for settlements in the field of export and import, and the volumes reach billions of dollars,” he specified.

Aksakov also emphasized the need to limit the number of financial institutions that will manage this turnover. According to him, at the initial stage, the authorities plan to test the functioning of the market mechanism in order to determine the most effective methods of its regulation.

The deputy also predicts an increase in the number of EPR participants, as well as an increase in the number of specialized trading platforms.

Aksakov specifically noted that the national currency of Russia is the ruble, and digital assets will be used exclusively for settlements in foreign trade transactions.