The Russian cryptocurrency market is intended to resemble a traditional exchange: not only to buy digital currency for rubles, but also to exchange one for another. The draft law being prepared by the Central Bank and the Ministry of Finance provides for the possibility of launching cryptocurrency pairs.
This means that on a legal platform, it will potentially be possible to exchange, for example, Bitcoin for a stablecoin or one stablecoin for another – without the mandatory intermediate sale into rubles. The exchange rate will be determined by the trading participants themselves: some will set the purchase price, others – the sale price.
The draft law includes the possibility of exchanging one cryptocurrency for another, a stablecoin for a stablecoin, or a stablecoin for a cryptocurrency – such a possibility is provided.
Whether such pairs will appear on Russian platforms has not yet been decided. Pronin emphasized that this will be a business decision, not a regulatory requirement.
The draft law itself is still being finalized for the second reading. According to the proposed model, unqualified investors, after testing, will be able to buy the most liquid digital currencies within a limit, while qualified investors will be able to work with them without sum restrictions. Operations must be carried out by licensed market participants.
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