Binance joins the Expert Council of the Association of Banks of Russia on cryptocurrencies

The Bitcoin exchange Binance announced its joining the Association of Banks of Russia to provide consultations in the field of cryptocurrencies. ForkLog was informed of this by company representatives.

The Association has also created an Expert Center, which will collate and prepare analytical materials on global practices for regulating the turnover of digital financial assets and digital currencies. The head of the Expert Center is Binance’s GR Director for Russia and the CIS, Olga Goncharova.

“Binance has solid experience in working with regulators. I am confident that our developments, our expertise will be positively received by the banking community of Russia,” commented Gleb Kostarev, Binance’s Director for Eastern Europe.

The Expert Center will serve as a platform for facilitating dialogue between federal authorities, legislators and cryptocurrency experts.

As reported in Russia, a draft law regulating the turnover of cryptocurrencies is being prepared, based on the Finance Ministry’s concept. It provides strict obligations for all participants of the cryptocurrency market. In addition to licensing exchanges and exchangers, all transactions are proposed to be conducted through the banking infrastructure.

The Central Bank opposed the concept of legalizing the bitcoin industry and proposed amendments to the legislation to ban cryptocurrencies.

In case there is no consensus with the Central Bank on regulation, the ministry will submit to the government a package of bills with a table of disagreements.

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