The financial institutions of Russia are ready for operations with cryptocurrencies

The large Russian banks are already ready to work with digital assets, but so far they cannot do it because of the lack of the legislative base. As RBC informs, a round table was held at the Moscow Stock Exchange, dedicated to the future of financial markets and the regulation of cryptocurrencies. The meeting was attended by the largest Russian banks, including Sberbank, Alfa Bank, VTB, VEB, Gazprombank and others, as well as international financiers.

The publication cites the opinion of the ex-Minister of Justice and Minister of Finance of Luxembourg, the member of the Board of Directors of the Luxembourg Stock Exchange and the chairman of the board of the Luxembourg's largest bank BIL Luc Frieden, about the development of the European ecosystem:

"The developed financial ecosystem allows the government to stimulate innovations in the financial sector. In order to strengthen the Luxembourg's leading position as the leading financial hub, we intend to further develop the regulation and infrastructure for financial entrepreneurship,” he promised.

Earlier at the closed meeting, the Russian banks were actively interested in the peculiarities of the legal foundations of the cryptocurrency sector in other countries and complained about the inability to work in this sphere in Russia and talked about preparing a collective proposal for the Russian government.

"The group met on these topics in order to work out the approach, how to change the legislative agenda in the future," the representative of the banking sector pointed out.

The source added that one large bank is working with the State Duma on the new version of the draft law on digital assets, which would allow attracting the capital at a different level.

As previously was stated, the renewed version of the draft law "On Digital Financial Assets" is planned to be submitted in October for the public discussion.