Russian Central Bank To Authorise Cryptocurrency Use For Qualified Investors

The Russian central bank, Bank of Russia, is set to legalize cryptocurrency use for qualified investors. This move indicates a positive shift in Russia’s position on cryptocurrencies and would proliferate crypto adoption in one of the world’s biggest economies.

As the Russian government explores crypto integration into its financial system, a new emerging token, ETFSwap (ETFS), has grabbed headlines amid a massive presale rally raising millions. Read on to see how Russia aims to adopt crypto use and see how much of an opportunity ETFSwap (ETFS) is.

Bank of Russia Deputy Governor Dicloses Russia’s New Stance On Crypto

Following the Russian ban on cryptocurrency use in 2021 and efforts from the Bank of Russia to ban crypto mining, the country has made a complete U-turn to finally legalize crypto mining earlier in the month. At the same time,  Russia’s central bank, Bank of Russia, is looking to amend the law to introduce a new category of “qualified investors” who would be eligible to trade cryptocurrencies.

This move comes as the country explores cryptocurrencies used for cross-border transactions. Russian newspaper Izvetia published on Monday, August 26, that the Bank of Russia’s state secretary and deputy governor, Alexy Guznov, has indicated a shift in the country’s stance on cryptocurrencies.

Guznov states that the central bank will allow only a limited group of qualified investors to participate in cryptocurrency trades. There are no current legal frameworks for crypto trade in Russia, nor is trading currently ongoing, as Guznov disclosed that it’s still a topic for the next stage.

This statement by the Bank of Russia’s state secretary and deputy governor comes shortly after reports of Russia planning to launch at least two domestic crypto exchanges. Experts believe the positive Russian sentiment over the past weeks would prove positive to the crypto market and urge investors to find promising investment picks.

ETFSwap (ETFS) Exhibits Early Signs Of Success Amid Positive Market Trends

ETFSwap (ETFS) could be set for the biggest rally of the year amid positive developments that could foster crypto adoption. The new ETFSwap (ETFS) is another DeFi platform that contributes to the larger adoption of crypto with its innovative solution. The emerging platform aims to leverage the Ethereum network to create a decentralized platform for trading ETFs.

This new ETF trading platform will facilitate access to the global ETF market via tokenized ETFs. These tokenized assets will be fully backed by actual ETF assets bought from traditional markets and will power some exciting crypto-compatible features. This cross-compatibility between ETFs and cryptocurrencies is facilitated via partnerships with MiCa-compliant investment banks that trade the securities and crypto market.

ETFSwap (ETFS) will contribute to crypto adoption because it imports a new set of asset classes, which would, in turn, draw in billions in liquidity. It also appeals to ETF investors, who would usually trade the asset on centralized platforms. Moreover, the ETF market is more than four times bigger than the crypto market and could facilitate faster growth for cryptocurrencies.

Additionally, ETFSwap (ETFS) will provide comprehensive trading services, which will include market-making opportunities and futures trading with up to 50x leverage on ETFs and 10x leverage on cryptocurrencies. With the beta launch set in the coming weeks, early adopters lie in wait for early access to the platform and its impressive features.

ETFSwap (ETFS) has taken the spotlight as the first solution of this kind, and investors are betting massively on its first-mover advantages. It’s also important to note that the ETFSwap (ETFS) team has passed KYC verification by SolidProof, and the identity of team members has been verified.

Conclusion

With the Russian central bank set to legalize cryptocurrency use in the country, experts believe that it could be a set off for bigger bullish trends to come. Amid these expectations, crypto enthusiasts continue to buy into the ETFSwap (ETFS) presale massively. The new ETF trading platform is poised for massive success and is predicted for a 40,000% price move toward launch.

Get a chance at life-changing profits now; buy ETFSwap (ETFS) at $0.01831 before the price increases to $0.03846 in the next presale stage.

For more information about the ETFS Presale:

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Also Read: Here’s How Much You Need To Make $1 Billion With Shiba Inu (SHIB) And ETFSwap (ETFS)