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Russia scraps proposal for government-backed crypto exchange
Russia has decided to abandon its previous plans of creating a national cryptocurrency exchange and will instead focus on developing regulations that would enable private companies to establish such exchanges. Anatoly Aksakov, the head of the State Duma committee on the financial market, revealed the recent developments to local media outlet Izvestiya on May 29. He said the idea behind allowing private platforms, rather than establishing an official venue, is to ensure compliance with local regulations, as national exchanges could potentially be exploited to evade sanctions. According to the report, the Russian ... (full story)