Moscow Stock Exchange Allows Crypto Trading
No one can make sense of what Russia wants to do with cryptocurrency exactly. This situation has been going back and forth for some time now. One day, they want to ban Bitcoin and make cryptocurrency activity subject to jail time. The next day Russian regulators almost embrace cryptocurrency on the spot. It is obvious there are different things at play right now, although no one knows for sure what the future holds. The latest development revolves around the Moscow Stock Exchange, a well-respected trade platform in all of Europe. Their plan is to integrate new offerings into their platform over the next few months.
Moscow Stock Exchange has big Plans
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.