Bank of Russia: Trading rules registered with the Ministry of Justice, platforms may begin cryptocurrency trading from November 22 once conditions are met.
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AT A GLANCE
According to BlockBeats, the Russian central bank stated that trading platforms may begin conducting cryptocurrency trading starting from November 22, after completing the approval of trading rules.
Article
Bank of Russia: Trading platforms may begin cryptocurrency trading from November 22
BlockBeats news, November 11, the Bank of Russia stated that trading platforms have the right to begin cryptocurrency trading from November 22, but must first complete approval with the central bank on the rules for such trading. The relevant regulations formulated by the central bank on conducting digital currency and digital rights trading have been registered with the Russian Ministry of Justice.
The central bank also made clear that trading platforms must register cryptocurrency trading participants, including brokers, trust managers, and central counterparties, and must keep records of orders and executed transactions and monitor trading. Trading organizers also need to calculate price indicators such as current prices, weighted average prices, market prices, and closing prices, and report information on the trading process and results to the central bank in the same manner as for other assets at present.
Original link https://m.theblockbeats.info/flash/376817
Key points
01
According to BlockBeats on November 11, the Central Bank of Russia stated that trading platforms may begin conducting cryptocurrency trading starting November 22, but must first complete the approval of such trading rules with the Central Bank.
02
The regulations on digital currency and digital rights trading formulated by the central bank have been registered by the Russian Ministry of Justice.
03
The trading platform must register trading participants including brokers, trustees, and central counterparties, keep records of orders and transactions, and monitor trading.
04
The trading organizer must calculate indicators such as the current price, weighted average price, market price, and closing price, and report trading progress and result information to the central bank in the same manner as other current assets.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This does not mean that all platforms will be able to automatically launch trading by November 22. The report's explicit premise is: platforms must first complete approval of trading rules with the central bank; conducting trading also requires fulfilling requirements such as participant registration, transaction record keeping, monitoring, and information reporting.
Why it matters to readers
The announcement clarifies the time conditions and regulatory requirements for trading platforms to conduct cryptocurrency transactions; the key to determining whether a specific platform can carry out business remains whether its trading rules have completed approval.
Do not interpret the dates on which trading is permitted as meaning that all platforms have been approved, nor should you conclude on that basis that any particular platform has already begun trading.
Risks and unknowns
The evidence is a paraphrase by BlockBeats, with no original text of the Central Bank of Russia's announcement or relevant regulations provided, making direct verification currently impossible.
The original text does not state which platforms have completed the approval of trading rules, nor does it state which platforms will actually launch trading.
The original text does not specify which year November 22 belongs to, nor does it list the tradable currencies or specific eligibility requirements for participation.
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digital rights
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