Lawmakers in Russia are now working on the process of establishing a national cryptocurrency exchange, and are actively writing amendments.

It has been alleged that both the Russian Ministry of Finance and the Russian Central Bank are somehow assisting this initiative. When it comes to the government’s approach to oversight of crypto within the nation, these two organizations have a long history of being at odds with each other.

The lower house of the Russian parliament is known as the Duma. On Nov. 23, local media reported that members of the Duma had been engaging in talks with industry players proposing revisions to the country’s current cryptocurrency law titled “On Digital Financial Assets.”

The amendments, which would establish a legislative basis for a national exchange, would first be brought to the attention of the country’s central bank.

Anatoly Aksakov, chairman of the Duma Committee on Financial Markets, recommended in June that a national cryptocurrency exchange be created in Russia as part of the Moscow Stock Exchange. Aksakov’s comments were made in reference to the Moscow Stock Exchange.

In September, the Moscow Stock Exchange developed a bill on behalf of the central bank to allow trading in digital financial assets. This law is intended to facilitate the trade of digital financial assets. The objective of this measure is to make it possible to trade digital financial assets.

A measure to legalize cryptocurrency mining, as well as the sale of mined cryptocurrencies, was submitted to the Duma earlier this month. The law also legalizes the sale of cryptocurrencies that have been mined.

However, local miners would still be allowed to use rigs located in other countries, despite the fact that the law would create a Russian platform for the sale of cryptocurrency and establish a Russian platform for the sale of cryptocurrency.

In the second scenario, the transactions in question would not be subject to the current foreign exchange controls and rules in Russia; however, they will still be required to report to the Russian tax service. This would be the case even though they would not be subject to exchange controls and rules.