Alexey Moiseev, Russian deputy finance minister, admits the possibility of cryptocurrency trading on Russian exchanges in the case of adoption of appropriate regulation.
“Theoretically, yes, if they are regulated accordingly. In fact, it is like derivative. I believe that it is a derivative only without a basic asset. There are derivatives on some basic asset, but there are derivatives on some mathematical function. This is a derivative on the mathematical function, in my opinion,” Moiseev said (quoted by Interfax).
He also said that within a month the Russian government will receive a report on cryptocurrencies.
“We are now actively consulting with the Central Bank and the market to finish this report.”
The Russian ministry of finance proposes to determine cryptocurrencies as property, rather than as a currency.
Earlier Moiseev said that the Ministry of Finance considers it necessary to introduce mandatory identification of users of cryptocurrencies. According to the ministry, it might help not only fight money laundering, but also protect customer’s rights.
In Russia, this year, there has been a rapid increase of interest in cryptocurrencies trading due to the exchange rates jump of main tokens. The largest Russian retail brokers note a sharp increase in customer requests for advice on the possibility of cryptocurrency trading. “We can say that there were a few requests a week earlier, now there are dozens of them,” said Dmitry Lesnov, head of the client relations department at the Finam investment holding, RNS reports.