The State Duma of the Russian Federation will consider a new version of the cryptocurrency legalization bill

  • Now cryptocurrencies can only be used as a means of payment outside Russia.
  • The State Duma said the establishment of a new international financial system was necessary.
  • The new system will go in two directions.

Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, stated that the bill allows the legalization of the issuance and circulation of cryptocurrencies.

According to Sputnik, Aksakov recalled that cryptocurrencies could only be used as a means of payment in foreign jurisdictions other than Russia.

“At the same time, the bill states that if an experimental model using encryption is implemented, it will be possible, for example, to pay for parallel imports. This is a step that illustrates a new direction for the development of our country’s financial markets,” the politician said.

He also believes that it is necessary to form a new international financial system.

“The use of the dollar and most recently the euro to solve political problems, in addition, the actual theft of our reserves shows no trust in Americans or Europeans. Therefore, it is necessary to create a new financial system,” Aksakov said .

According to the politician, the new system will go in two directions:

  1. The first is the use of national currencies in international settlements.
  2. The second is the use of international currencies.

Aksakov cites the transferable ruble as an example. The currency was used for multilateral settlements between the USSR and other members of the Council of Mutual Economic Assistance from 1963-1987.

Earlier, Interfax reported that the State Duma will consider a bill on combining financial platform operators (financial supermarkets) with platforms for issuing Crypto financial assets (DFA). Only joint-stock companies with a registered capital of 100 million pounds can become financial supermarkets and have the right to conduct banking transactions with citizens and provide securities market services. The list of registered financial supermarkets includes Moscow Exchange, VTB Registrar, etc. The list of CFA operators includes Sberbank, Atomize and Lighthouse.

Despite Russia’s many initiatives in the field of cryptocurrency regulation, only 6% of Russians are cryptocurrency-savvy. Russians see the possibility of making money as crypto’s biggest advantage (44%), however, opponents (68%) see cryptocurrencies as having no backing, which negates all advantages.

Where is the best place to buy crypto? TOP-5 Exchange

To buy cryptocurrencies safely and conveniently with the lowest commissions, we have prepared ratings of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals in rubles, hryvnia, dollars and euros.

The reliability of the website mainly depends on the transaction volume and the number of users. By all the key metrics, the largest cryptocurrency exchange in the world is Binance. The platform supports Visa/MasterCard bank cards and Advcash, Payeer, QIWI payment systems.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoins for rubles on cryptocurrency exchanges?

Cryptocurrency Exchange Ratings:

# Exchange: website: grade:
one Binance 9.7
2 Bybit 8.5
3 Huobi 8.4
Four bitcoin 7.8
5 AAX 6.9

Criteria for setting the rating in our rating of cryptocurrency exchanges:

  • Reliability of work – Stability of access to all features of the platform, including uninterrupted trading, depositing and withdrawing funds, as well as working time and daily trading volume in the market.
  • Commission – The amount of commission for trading operations and asset withdrawals within the site.
  • Additional features and services – futures, options, staking, NFT markets.
  • Reviews and Support – We analyze the quality of user reviews and technical support work.
  • User-friendliness of the interface – We evaluate the functionality and intuitiveness of the interface, as well as possible errors and glitches when working with the exchange.
  • Final Score – The average score across all metrics, which determines the ranking position.

Source of information: Compiled from MINING-Cryptocurrency by 0x Information.The copyright belongs to the author and may not be reproduced without permission

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