Russia to Launch a Crypto Exchange Next Year

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Anatoly Aksakov, head of the State Duma Committee of Russia on the financial market, has said that by mid-2023, an official cryptocurrency exchange controlled by the authorities may appear in the country.

According to him, it will be created as part of the project to legalize digital currencies for cross-border payments.

The Ministry of Finance advocates the use of such a tool in foreign markets to circumvent sanctions, which means that for example, cryptos can be used in export-import transactions.

The bill on cross-border payments in digital currencies may come into force in Q2 2023.