Big things are happening around the globe as far as crypto-currency is concerned. Many countries and stock exchanges are opting to trade in crypto-currencies. Same is happening in Moscow stock exchange.
You have Got Bitcoin? If yes, and if you are a qualified investor then you can soon trade digital currencies against paper currency on the Moscow Stock Exchange. 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.
Alexei Moiseyev, Russia’s Deputy Minister of Finance, told state owned news channel ‘Rossiya 24’ on Tuesday that the exchange regulator will allow qualified investors to trade in crypto-currency. This step is taken to avoid large money laundering operations. In Russia, qualified investors need to have at least six million rubles in personal assets or 200 million rubles for investment firms.
Moscow Stock Exchange Announces big plans related to Bitcoin
What makes these new offerings so interesting is their relation to cryptocurrency. More specifically, they will be derivatives and ETFs based on Bitcoin and other cryptocurrencies. An official infrastructure for the trading of such products is currently in development as we speak. It is unclear when this new platform will launch or who will have access to it, though. After all, there are some concerns regarding only allowing qualified investors to invest in Bitcoin moving forward.
Moscow Stock Exchange is the largest exchange group in Russia right now. They focus mainly on equities, bonds, derivatives, and FX markets. Adding cryptocurrency to this list is a major step forward, to say the least. Offering this service relies on talks with regulators as to how this needs to be handled. Trading instruments including derivatives and ETFs based on cryptocurrencies are quite significant. It is not something one would expect to see in Russia, to say the least.
Interestingly enough, it appears the Moscow Stock Exchange isn’t the only one planning such features. Tass reports the St. Petersburg Stock Exchange is looking at cryptocurrency trading as well right now. It is unclear if they will also focus on derivatives and ETFs, though. Given the regulatory effort taking place in Russia right now, that wouldn’t be entirely surprising. Big things are happening in Eastern Europe as far as cryptocurrency is concerned. No one knows for sure how things will play out, though.
After hearing this news, many people have shown their interest and excitement about investing in Bitcoin in Moscow Stock Exchange. Below are some tweets related to use of bitcoin in Moscow stock exchange.
Got Bitcoin? You can soon trade digital currencies against paper currency on the Moscow Stock Exchange. If you're… https://t.co/koDD4drrIr
— Bit-Media (@BitMedia1) August 31, 2017
— Anthony Schmitt Financial Services (@BourseetTrading) August 31, 2017
— Laura Shin (@laurashin) August 30, 2017
— Λce (@AceOfWallStreet) August 30, 2017
— Bitcoin News (@BTCTN) August 30, 2017
— Chris Coney (@ChrisConeyInt) August 30, 2017
Source: Frobes, news btc