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According to the head of the State Duma Committee on the financial market of Russia, an official cryptocurrency exchange controlled by the authorities may appear in the country this year.

According to him, it will be created as part of the project to legalize digital currencies for cross-border payments.

The Ministry of Finance believes the use of such a tool in foreign markets can help circumvent sanctions. For example, digital assets could be used in export-import transactions.

The bill on cross-border payments in digital currencies may come into force in Russia as early as Q2 2023.

In addition, he has announced the launch of an official crypto exchange and the creation of a domestic infrastructure for processing transactions with digital assets.

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