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Pilot area for crypto market may appear in Kazan
Addressing the head of Tatarstan, Digital Development Minister Airat Khairullin, said “I propose, Rustam Nurgalievich, in agreement with the Central Bank of Russia and the Government of Russia, in the framework of two federal laws on regulatory sandboxes and digital financial assets, to implement a pilot area in Kazan to see how the same infrastructure elements can work under the control of the regulator.”
The Minister noted that, according to some estimates, the annual volume of transactions of Russians with cryptocurrencies reached USD5 billion, and the number of global market participants exceeded 221 million people. According to Khairullin, this makes the crypto market an underestimated “growth point”. He also stressed that the crypto market is not cryptocurrencies alone, but NFT tokens as well.