- St. Petersburg Stock Exchange (SPB Exchange), Russia’s second-largest exchange, has stated that it could list a range of cryptocurrencies, including Bitcoin (BTC), if the government legalizes the sector.
- Goryunov emphasized that once there is a clear regulatory framework for working with digital currencies, the exchange would be the first platform for cryptocurrency trading in Russia.
- Chebeskov said that the government aims to revitalize the local financial market by utilizing the liquidity already present in decentralized finance.
The President of the St. Petersburg Stock Exchange, which is Russia’s second-largest exchange, stated that it would be the first exchange to list Bitcoin and cryptocurrencies.
SPB Exchange Considers Listing Bitcoin
St. Petersburg Stock Exchange (SPB Exchange), Russia’s second-largest exchange, has stated that it could list a range of cryptocurrencies, including Bitcoin (BTC), if the government legalizes the sector. According to a local news agency, SPB Exchange President Roman Goryunov mentioned that the worlds of crypto and traditional financial instruments would merge at some point.
Although no specific timeframe was mentioned, Goryunov emphasized that the exchange would become the first platform for cryptocurrency trading in Russia once there is a clear regulatory framework for working with digital currencies. Goryunov stated that they have been contemplating the exchange’s plans regarding cryptocurrencies for some time. He stated:
“We were on the verge of launching a cryptocurrency exchange in 2017, and we haven’t changed our minds since then.”
As sanctions against Russia intensify, authorities are searching for new methods to attract capital to support the country’s economy.
Russia Aims to Revitalize the Local Financial Market
In mid-September 2023, Ivan Chebeskov, a Russian Finance Ministry official, stated that the government aims to revitalize the local financial market by utilizing the liquidity already present in decentralized finance.
However, it remains uncertain how the Kremlin will pull off this move, as Russian President Vladimir Putin previously signed a law that almost banned crypto payments nationwide. This law continues to deter crypto-related companies from entering Russia.
For instance, CommEX, which took over Binance’s Russian branch, chose to register in Seychelles despite mostly focusing its services on the Russian market.
