Foreign media: Russia plans to establish two cryptocurrency exchanges

ChainCatcher news, according to the Russian newspaper "Kommersant," Russia plans to establish two cryptocurrency exchanges to support trading, one in Moscow and the other in St. Petersburg.

According to informed sources, these exchanges may operate under an experimental legal framework, with the St. Petersburg exchange potentially based on the existing St. Petersburg Foreign Exchange Market (СПВБ). The preliminary plan includes the creation of stablecoins pegged to the Chinese yuan and the BRICS currency basket. However, due to sanction risks, experts believe that the functionality of these exchanges may be limited, and initially, they will mainly target large blue-chip companies.