The Russian cryptocurrency market needs a law that will bring key operations out of legal uncertainty. This was stated by Mikhail Dorofeev, Deputy Chairman of PSB, at the St. Petersburg International Legal Forum.
According to him, future rules could define the operating procedures for Russian crypto exchanges, interbank settlements, and transfers by Russian investors abroad. The purchase of digital currencies on foreign platforms and the use of modern financial technologies in such operations are also being discussed separately.
Legislation regulating digital currencies in Russia is only beginning to form – currently, a bill has been prepared which, as the entire market expects, will make cryptocurrencies a means of payment without any reservations.
Dorofeev noted that the global financial market is gradually moving away from a single international payment system towards several independent regional circuits. Against this background, Russia, in his opinion, needs its own non-dollar infrastructure that can be linked to new payment systems.
The session also discussed how to align Russian rules with the legislation of EAEU countries and what legal model to choose for crypto assets.