In this article we will look at a huge recent development in cryptocurrency, Moscow stock exchange will begin trading several popular cryptocurrencies including the king of all crypto BTC very soon.
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.
This is an amazing development to say the least. I recently wrote an article about how Korea's Kakao trading platform also just released plans to integrate cryptocurrency trading into their application and web interface so clearly momentum is picking up.
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.
Moscow has interesting restrictions on who will get to trade cryptocurrencies and its no surprise that it will be limited to rich investors leaving the little guy out in the cold and forced to find another way into the market.
On Monday, Burger King in Russia launched its own crypto-currency called WhopperCoins. It allows people to buy food there without rubles.
A legal framework for bitcoin in Russia is still being devised by the country's various central and financial authorities, but no concrete regulatory proposals have been put forth at this time. All of this could slow the process of ultimately opening the exchange to crypto-currency trading. But the political will exists, and the securities regulator says the infrastructure is being built in preparation for that future day.
Clearly Russian regulators don't want to miss out on BTC's epic rise to a number much higher in price than it is today. Even Burger King wants to get in on the momentum making Russia one of the most friendly countries to cryptocurrency the world has ever seen.
Techblogger Wrap Up
Do you think Russia will go beyond offering wealthy investors the chance to trade BTC and other cryptocurrencies on the Moscow stock exchange? Will they become the first country to completely regulate and integrate the currency into their economy?
Please leave your predictions below.
Thanks for reading!
Source:
Moscow Stock Exchange Welcomes Crypto-Currency Trade - Forbes
This is really good for the cryptocurrency community and a step in the right direction! Thanks for sharing!
Wow - things are changing so very fast! thanks for the update!
The more bitcoin and other cryptos get adopted and reported about, the faster they will become mainstream.
This is definitely a step in the right direction!
your info is WRONG
More recently, the Russian media vied with each other to inform that Russian authorities can legalize bitcoin in 2018 - but this week Deputy Finance Minister Alexei Moiseyev made it clear that in fact, markets may need to prepare for tightening regulation on this digital currency . In an interview with Rossiya 24, he said that the country's authorities should treat crypto-currencies, including bitcoin, as a complex financial asset and limit their use, allowing their purchase and sale only to qualified investors.
http://www.forexpf.ru/news/2017/08/30/bhhm-rossiya-namerena-zapretit-prodavat-bitkoin-obychnym-lyudyam.html
Please support your opinion with an article written in English in order to allow me to investigate further.
https://news.bitcoin.com/russia-bitcoin-financial-asset-qualified-investors/
Russia Backpedals On Bitcoin - Unveils Plan To Ban Cryptocurrency Sales To "Ordinary People"
http://www.zerohedge.com/news/2017-08-29/russia-backpedals-bitcoin-unveils-plan-ban-cryptocurrency-sales-ordinary-people?page=3
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STOPit's so strange that's why get so many upvote, I wish we could give a upvote.
Everyone who writes quality content deserves an upvote. Best of luck getting upvotes.