Moscow Stock Exchange is planning to start the trading of Cryptocurrencies soon. Derivatives and exchange traded funds (ETF) based on different cryptocurrencies will be listed on exchange. Exchange is currently working on creating an infrastructure to trade Bitcoin and other cryptocurrencies as of August 2017. This happening after Russia banned ‘Ordinary people’ from buying cryptocurrencies.
Exchange’s statement reads:
“We are already working on creating an infrastructure for such trades, in particular, a platform for post-trading services for crypto assets.”
As announced by Russian Deputy Finance Minister Alexei Moiseev that the govt. is planning to regulate Bitcoin as a financial asset, exchange’s plan is in line with that.
Background of the exchange:
The Moscow Exchange group is one of the biggest exchange group in Russia. Exchange’s operations in trading markets such as Equities, bonds, derivatives, the foreign exchange market, precious metals and money markets. The exchange is also one of the biggest clearing service provider in the country.
Other cryptocurrency developments in Russia:
Cryptocurrency market is experiencing positive sentiments in the country. One of the stock exchanges in country St. Petersburg Stock Exchange is also planning to add digital currency to its platform. Exchange is also third most active exchange on the country in terms of volume and capital.
Russian govt. is working on regulating the digital currencies in the country. That can be seen in various steps taken by Russia to regulate them.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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