SPB Exchange technically ready to launch trading in cryptocurrency, in talks with Central Bank

SOCHI. Oct 8 (Interfax) - The SPB Exchange is technically ready to begin trading in cryptocurrency on its platform in an experimental legal regime (ELR) should it receive permission from the Central Bank of Russia, CEO Yevgeny Serdyukov told reporters on the sidelines of the Finopolis conference.

"We established the technology for trading and settlements on the cryptocurrency market in 2017, and we have maintained and even improved the technology. We could launch it now if the regulatory environment allows," Serdyukov said.

"We are working on it. Talks are definitely underway," Serdyukov said in response to whether the topic is currently under discussion with the Central Bank.

Serdyukov said that he does not know whether there are other candidates for the experiment.

"We can only go to the regulator and offer our services," Serdyukov said.

The Central Bank of Russia previously suggested to the government that cryptocurrency transactions within the ELR be permitted for the category of "highly qualified" investors. The Central Bank's plan envisages the status being available to citizens with securities investments and deposits exceeding 100 million rubles or income exceeding 50 million rubles.

Deputy Finance Minister Ivan Chebeskov in March said that the current exchange infrastructure could be utilized to organize cryptocurrency trading within the ELR, though possibly permitting new players has also been under consideration.