Got Bitcoin? You can soon trade digital currencies against paper currency on the Moscow Stock Exchange. If you're a qualified investor, that is. In doing so, Russia would be the first stock exchange to make crypto-currency a new investable asset. They're not there yet. But wheels are in motion at the chief regulator of the Russian stock exchange that hopes to have rules in place in early 2018.
Russia's Deputy Minister of Finance, Alexei Moiseyev, told Rossiya 24 on Tuesday that the exchange regulator will only allow for qualified investors to trade in crypto-currency in order to avoid large money laundering operations. Qualified investors in Russia need to have at least six million rubles in personal assets or 200 million rubles for investment firms.
"We really need to be able to track deals and transactions in these currencies," Moiseyev told Kommersant.
Not that putting it up on the exchange would stop Russian money laundering or payment for illegal services in digital money. But the move in Russia this week indicates that the country is going full steam ahead in adopting block chain technologies to build up its know-how and national usage of digital money. Tuesday's announcement by the Finance Ministry official marked a significant change in the views of Russian regulators from just a year ago.
Full story at http://bit.ly/2wrVWOJ
Source: Forbes
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