Tatarstan Digital Development Ministry proposing Kazan be made pilot zone for regulated cryptocurrency market

MOSCOW. Jan 26 (Interfax) - Kazan should be made a pilot zone for testing mechanisms to regulate the cryptocurrency market in Russia, according to a proposal by the head of Tatarstan's Digital Development Ministry Airat Khairullin said at a summary meeting of the ministry's board on Wednesday.

"I propose that in coordination with the Central Bank, FSB, and Russian government as part of the two federal laws on experimental legal regimes and digital financial assets a pilot zone be implemented in Kazan so that we can see how these infrastructure elements [the cryptocurrency market] operates under the control of the state and the regulator," Khairullin said.

Russian Digital Minister Maksut Shadayev took part in the board meeting via video conference.