The Russian authorities should allow financial institutions to create funds related to cryptocurrencies, and exchanges to create derivatives on them. About it declared President of the National Association of Stock Market Participants (NAUFOR) Alexei Timofeev during the Kommersant conference.
According to him, this will to some extent satisfy the existing interest of retail investors within the framework of the existing regulation.
“It seems to us that one of the steps that would certainly need to be taken is to allow today’s financial institutions to create funds that are more or less connected with crypto assets, exchanges to create derivatives for crypto assets. These are all securities, there will be nothing new for us in how to take this into account, how it works in the current regulatory system, including protecting the interests of retail investors,” Timofeev said.
He noted that NAUFOR supports the regulation of the cryptocurrency sector, which correlates with the existing financial system.
“Let this not mean obtaining a trade organizer or broker license, but at least trade organizers and brokers could take the opportunity to obtain the status of operators in this system,” the president of the organization said.
NAUFOR fears “the creation of an alternative, parallel financial system, which in due course will begin to claim fiat assets.”
“If existing financial institutions are not given the opportunity to take advantage of this opportunity, they will find themselves in a worse – it may happen – position than those who will specialize in operations with cryptocurrency,” Alexey Timofeev noted.
Recall that on the basis of the concept approved by the government, by February 18, legislators will present a draft regulation of the cryptocurrency market.
The current version establishes strict obligations for all participants in the cryptocurrency market. In addition to licensing exchanges and exchangers, all transactions are proposed to be carried out through the banking infrastructure, and investors are divided into classifications.
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The Russian authorities should allow financial institutions to create funds related to cryptocurrencies, and exchanges to create derivatives on them. About it declared President of the National Association of Stock Market Participants (NAUFOR) Alexei Timofeev during the Kommersant conference.
According to him, this will to some extent satisfy the existing interest of retail investors within the framework of the existing regulation.
“It seems to us that one of the steps that would certainly need to be taken is to allow today’s financial institutions to create funds that are more or less connected with crypto assets, exchanges to create derivatives for crypto assets. These are all securities, there will be nothing new for us in how to take this into account, how it works in the current regulatory system, including protecting the interests of retail investors,” Timofeev said.
He noted that NAUFOR supports the regulation of the cryptocurrency sector, which correlates with the existing financial system.
“Let this not mean obtaining a trade organizer or broker license, but at least trade organizers and brokers could take the opportunity to obtain the status of operators in this system,” the president of the organization said.
NAUFOR fears “the creation of an alternative, parallel financial system, which in due course will begin to claim fiat assets.”
“If existing financial institutions are not given the opportunity to take advantage of this opportunity, they will find themselves in a worse – it may happen – position than those who will specialize in operations with cryptocurrency,” Alexey Timofeev noted.
Recall that on the basis of the concept approved by the government, by February 18, legislators will present a draft regulation of the cryptocurrency market.
The current version establishes strict obligations for all participants in the cryptocurrency market. In addition to licensing exchanges and exchangers, all transactions are proposed to be carried out through the banking infrastructure, and investors are divided into classifications.
Subscribe to the Cryplogger channel at YouTube.
Found a mistake in the text? Select it and press CTRL+ENTER
