Major Russian Banks Highly Interested in ‘Working With Crypto,’

Several large Russian banks have expressed their strong interest in working with the industry of cryptocurrency and blockchain during a closed-door meeting held at the Moscow Exchange, sources told Russian news site RBC September 19.

As an unnamed source familiar with the matter told RBC, the demand for cryptocurrencies in Russia is very high, but the banks are not able to meet it due to the lack of clearly defined regulations.

Because of that, the representatives of the Russian banks present at the meeting have talked to regulators from Japan, Luxembourg and Singapore to adapt their experience to local realities. Moreover, a lobby group has been formed with the goal of approaching the Russian government with suggestions on how to regulate crypto in the country. (Read more….)