Among these aspects is the classification of digital currency, the legal framework for its issuance and legal circulation in Russia, certifications, trading, and more.
In that sense, if a crypto exchange wanted to offer its services in Russia, operating from the ground, it will need to complete this process and get a license from an “authorized body” appointed by the Russian government.
As the bill clarified, according to Kommersant, only Russian entities can apply to offer their services.
At the same time, Russian nationals are allowed to trade cryptocurrencies on international exchanges.
Thus, people could avoid the law altogether and simply turn to international exchanges or the black market.