Russian Finance Minister Anton Siluanov stated at the 10th All-Russian Youth Educational Forum “Territory of Meanings” that the issue of creating cryptocurrency exchanges is “under discussion.”

The official emphasized that no decision has yet been made on how exactly to launch cryptocurrency exchanges:

“We are discussing this topic because both the Central Bank and the government, represented by the Ministry of Finance, are working on it. For now, crypto exchanges are in a gray area, and we need to put an end to it. Both the Central Bank and the government, represented by the Ministry of Finance, have not yet found a solution on how to do this.”

Anton Siluanov added that now companies engaged in the export of products and importers report that banks from friendly countries charge about 1% commission for cross-border transfers, and previously they took up to 7%. According to the Minister of Finance, this is inexpensive, but it is worth creating a digital financial infrastructure, making crypto transfers legal.

The official believes in such a specific financial product as digital financial assets (DFA). According to the minister, they will make it possible to “reduce external pressure on international payments.”

“We have made great progress: paying with bitcoins – please, using digital financial instruments, including foreign ones, in cross-border settlements – too. It’s just a question of the exchange,” Siluanov explains.

After the adoption of the law on regulation of digital asset turnover and state-controlled mining, the crypto market will be able to develop and bring additional income to the budget, the minister believes.

Earlier, the Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov stated that after some time in Russia it will be possible to exchange bitcoins for digital rubles. With the advent of the digital ruble, the need for p2p platforms based on cryptocurrency exchanges will disappear, the deputy assured.