Russian Stock Exchange Denies Crypto Trading Plans Amid National Push for State-Run Platforms
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The Saint Petersburg and Moscow exchange (Russian Stock Exchange) has denied recent reports that it is preparing to launch a state-run cryptocurrency trading platform. Earlier this week, rumors circulated that both the St. Petersburg and Moscow exchanges were planning to introduce crypto services. However, the St. Petersburg Currency Exchange has clarified that it has no such plans and remains focused on its existing financial products and services in the money and stock markets.
The official statement read, “The reports that appeared in a number of media outlets that the St. Petersburg Currency Exchange plans to become one of the platforms for trading crypto assets are not true. Our approved development strategy is focused on developing our own products and services in the money and stock markets. They do not involve the provision of any services related to cryptocurrencies.”
Despite this denial, there has been significant discussion among senior Russian officials about establishing a state-run crypto exchange. This comes as new laws set to take effect on September 1st will legalize industrial crypto mining and allow the use of cryptocurrency for international trade.
In line with these developments, the St. Petersburg Currency Exchange has posted a job vacancy for an anti-money laundering (AML) specialist with expertise in digital assets and cryptocurrencies, suggesting some ongoing interest in the sector.
Meanwhile, other regions in Russia are exploring the possibility of launching their own crypto exchanges. In the Republic of Tatarstan, a digital platform for a national crypto exchange is reportedly ready to go, supported by the local Ministry of Digital Development. This exchange, tentatively named the Tatarstan National Crypto Exchange, aims to control cryptocurrency transactions within Russia, ensuring transparency and proper taxation.
