Russia may set up offshore zone for cryptocurrency and FX trading on Chinese border

Russia is considering setting up an offshore financial centre for cryptocurrency and international trading, beincrypto writes. The special zone would be located on Bolshoy Ussuriysky Island, located on the Chinese-Russian border.

Leonid Petukhov, the head of the Agency of the Far East for Investments and Exports (IPA), proposed the venture during the St. Petersburg International Economic Forum Saturday. According to Petukhov, the new financial centre would serve as a hub for cryptocurrency trading and crypto-related stock exchanges, as well as foreign exchange markets.

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