Russia Proposes Regulations for Official Exchange Trading of Digital Currencies

The Bank of Russia has published its first draft regulations for official exchange trading of digital currencies and digital rights. The proposal aims to create clear conditions for working with cryptocurrencies, including Bitcoin, by introducing a new market participant called a 'digital depository'. This entity will be responsible for accounting for cryptocurrencies and digital rights.

The proposed rules also include the calculation of the weighted average price of digital currencies, which will help assess liquidity and make investment decisions. The concept of the market price of digital currency and digital rights is introduced separately, to be calculated at the end of each trading day.

Similar to other financial instruments, trading organizers will have to disclose information on their websites, such as the number of contracts concluded and their total monetary volume. A unified registry of digital depositories will be maintained by the Bank of Russia for transparent control.