If such a fully controlled crypto exchange were to appear, we could expect conditions to worsen for all other similar companies within the country, suggested a senior analyst at Bestchange.ru. The next logical step, in his opinion, would be to ban the activities of all companies except one. According to Zuborev, many of these companies would then simply go into the shadows, but would not stop working completely.
If the national crypto exchange is created as a completely independent private company, then, the RBC interlocutor reasons, the market structure will not change much. Currently, there are similar “pro-Russian exchanges” on the market — EXMO, Garantex. Examples of such platforms were the closed CommEX and BTC-e (Wex).
The new Russian exchange will have to fight for an audience. In order to motivate private clients to start using Russian crypto projects instead of foreign ones, it should, according to Zuborev, make users feel secure and transparent. For example, the team of the new exchange can offer more favorable and convenient conditions for counterparties, create a comfortable crypto-fiat gateway with a convenient API for exchangers.
Kirill Lyakhmanov, chief legal adviser of the intellectual property practice at the EBR law firm, suggested that the new Russian crypto exchange would be unlikely to engage in foreign trade transactions. The reason: the pool of crypto wallets associated with it would be known, they would be able to be tracked by foreign financial regulators, and, accordingly, direct international sanctions could be quickly imposed on the company.
Earlier, the Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov stated that a state-controlled national cryptocurrency exchange could begin operating in the near future.
Source: Bits
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