Moscow Stock Exchange plans to start offering crypto – 24/7 Wall St.

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According to local media, the Moscow Stock Exchange (MOEX) is working on a draft law that would allow it to start listing digital assets. These assets would be offered both as securities and directly as digital financial assets.

MOEX is working on a bill that would allow it to offer digital assets

Discussions at the Banks of Russia – XXI Century financial forum have been more crypto-focused in 2022 than in previous years. Speaking on Thursday, Sergei Shvetsov, the chairman of the MOEX supervisory board, announced that the exchange was working on a bill that could allow it to list digital assets as securities.

Digital assets will enter Russian financial markets in two formats. The former will see them traded as securities, while the latter would itself release digital financial assets. The bill is currently being considered by the Central Bank of Russia.

We want the market to make its own choice, blockchain accounting or custodian accounting, and if the law is passed, Russian custodians will be able to accumulate digital financial assets on their accounts in the blockchain – as soon as the customer needs the asset under underlying , he will redeem the receipt on his account in the blockchain will receive the asset.

Russia wants more crypto regulation and availability

Earlier in the weeks, it was reported that Russia’s Finance Ministry had reached an agreement with the country’s Central Bank regarding digital assets. According to Deputy Finance Minister Alexei Moiseev, the move is intended to incentivize Russians to open crypto wallets inside the country, rather than outside the Federation, as has been the case so far. .

The milestone agreement also aims to enable payments for imports and exports with cryptocurrency. This would allow Russia to join Iran which recently became the first country to use digital assets in international trade.

With mounting pressure from sanctions imposed on the Russian Federation following its invasion of Ukraine, there is more incentive for the country to break out of the impasse its crypto-regulation is facing. The UK is currently working on legislation that would make it harder for oligarchs to use the country to circumvent sanctions with both traditional and digital assets.

This article originally appeared on The Tokenist

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