Chairman of the State Duma Committee of the Russian Federation Anatoly Aksakov stated that the country lacks a legal mechanism for the functioning of crypto exchanges, and the Bank of Russia and the Ministry of Finance have not found a consensus on the principles of its creation.

Anatoly Aksakov emphasized that it is necessary to develop an optimal legal framework for the start of crypto exchanges, but there are disagreements about how to ensure the protection of the interests of market participants between the regulator and relevant agencies.

“The key point in launching a crypto exchange is the development of legal mechanisms for allowing market participants to access such a platform and control over all processes. I think that we will define general rules that will be developed jointly with the government and the mega-regulator, and will give the Bank of Russia the opportunity to establish specific rules and procedures for the operation of crypto exchanges,” he said.

According to the deputy, there is a proposal to create one cryptocurrency platform in Moscow based on the Moscow Exchange, and a second one based on the Saint Petersburg Currency Exchange (SPCE), but this issue is still under discussion. At the same time, a quasi-state platform may appear, with the direct or indirect participation of the Ministry of Finance and the Bank of Russia, Aksakov noted.

Earlier, about the possible launch of a quasi-state crypto exchange with shareholders represented by the Ministry of Finance, the Bank of Russia or entities affiliated with them stated Senior analyst of the Bestchange.ru platform Nikita Zuborev.