Russia has shifted its focus towards regulating multiple crypto trading platforms, abandoning its plans for a regulated national cryptocurrency exchange, as revealed by State Duma official Anatoly Aksakov. The decision to scrap the idea of a national exchange comes after the Ministry of Finance and other authorities did not lend their support to the proposal. Instead, Russia aims to establish rules and regulations for the operation and management of crypto platforms, allowing local businesses to engage in cross-border transactions and providing a means to circumvent sanctions through the creation of new crypto platforms. The regulatory oversight for cryptocurrency exchanges is expected to be placed under the responsibility of the Russian central bank, with the corresponding framework being incorporated into the bill on experimental legal regimes. The primary objective now is to effectively regulate the process of creating and managing crypto platforms, with a focus on minimizing risks and addressing issues of market dominance.
US district judge refers FTX independent examiner issue to appellate court
A motion for the appointment of an independent examiner in the bankruptcy case of crypto exchange FTX has been referred...
