Russia Considers Offshore Cryptocurrency Trading Platforms


The ministry of finance of Russia is proposing to create special offshore cryptocurrency trading platforms with cities of Kaliningrad and Vladivostok considered as potential locations, deputy minister Alexei Moiseev said.

"Generally speaking, we're thinking of the possibility of setting up centralized [cryptocurrencies] trade platforms on Russky Island [in Vladivostok], Oktyabrsky Island [in Kaliningrad]. But, of course, we believe that it is necessary to allow such exchanges in Russia," Moiseev told reporters.

Last December, Alexei Moiseev said that the Finance Ministry "supports the legalization of commerce in cryptocurrencies on official exchanges."

The ministry's initiative comes after a bill on assets regulation, which, among other things, defines tokens, cryptocurrencies, mining, and ICO's, was released.

Earlier, Blockchain Association and Russia's Cryptocurrency said the proposals on creating and regulating a national cryptocurrency will be formally presented in July 2018, while a launch would take after that.