Russias Central Bank Unveils Draft Rules for Cryptocurrency Trading

Russia's central bank has released a draft of new rules for cryptocurrency trading. The draft incorporates 'digital currency' into existing regulated market trading rules, requiring institutions such as exchanges to list digital assets on their systems.

The approach uses the same procedures applied to fiat currencies and securities, rather than setting up a separate framework. This move is seen as a step to bring crypto into the regulated system by overhauling trading infrastructure and reporting systems.

Russia has maintained a complex relationship with cryptocurrencies, with the use of cryptocurrency as a means of payment being illegal since 2022. However, the legislature has shown an open stance toward using cryptocurrency for international payments.