Home CryptocurrencyBitcoin Moscow Stock Exchange Prepares Draft Law on Digital Financial Assets and Securities Trading: Report

Moscow Stock Exchange Prepares Draft Law on Digital Financial Assets and Securities Trading: Report

by SuperiorInvest

The Moscow Exchange (MOEX) is preparing a draft law that will allow trading in digital financial assets (DFA) and securities based on them, according to a report in the Russian press. The exchange is drafting the bill on behalf of Russia’s central bank, which does not have the power to introduce legislation, Vedomosti newspaper reported reported on Thursday.

Chairman of the Supervisory Board of MOEX Sergey Shvetsov said at the banking conference that the upcoming draft law envisages the trading of both DFA and DFA certificates, which would be traded as securities. “The exchange and its subsidiaries will apply to the regulator, and I hope they will receive the status of exchange operators” for trading with the DFA, Shvetsov said. Added by:

“We want the market to choose between blockchain accounting and depository accounting, and if the law is approved, Russian depositories will be able to hold DFA in their blockchain accounts – as soon as the client needs the underlying asset, apply the certificate and get the asset to their blockchain account .”

According to Shvetsov, the lack of familiarity is an obstacle to the distributed ledger in Russia. “When you don’t know who to call and who to sue, a lot of people don’t want to participate,” he said, but “it’s a blank slate on which we can draw whatever we want based on the needs of the economy.” and investors.”

Related: Disadvantages of centralization: The Moscow Stock Exchange remains offline amid the ongoing Russia-Ukraine war

Shvetsov said the bill is currently being reviewed by Russia’s central bank. Anatoly Aksakov, chairman of the State Duma Finance Committee and head of the Russian Banking Association, proposed it in July MOEX has become a crypto exchangefollowing the example of the Toronto Stock Exchange and the Deutsche Boerse.

MOEX spokesperson he said in August that the exchange expects to be able to trade DFA. “It’s in the interest of our clients,” said MOEX International’s chief strategy officer Artem Zeleznov.

Source Link

Related Posts

%d bloggers like this: