September 20, at the Moscow Stock Exchange, a round table was held on the future of financial markets and the regulation of crypto-currencies.
The event was delivered by Luc Frieden, ex-Minister of Justice and Minister of Finance of Luxembourg, member of the Board of Directors of the Luxembourg Stock Exchange and Chairman of the Board of the largest bank of Luxembourg BIL (Banque Internationale a Luxembourg). He said that the country has a well-developed legislative base for digital money.
"Today Luxembourg is one of the most developed financial centers in Europe due to a stable political background and well-built legal support for the financial sector. The developed financial ecosystem allows the government of the country to stimulate innovations in the financial sector. To strengthen Luxembourg’s leading position as the leading financial hub, we intend to further develop regulation and infrastructure for financial entrepreneurship, "L. Friden said.
He noted that the industry does not need separate regulation, because it is not yet sufficiently developed. At the same time, industry control should not be at the national level, but at the international level.
As an anonymous source familiar with the situation told RBC-Crypto’s representative, during a closed meeting on September 19, Russian banks were interested in the regulation of the crypto-currency sector in Luxembourg, Singapore and Japan. He stressed that representatives of large financial companies reported high demand for digital money, but they can not provide such services because of the lack of legal regulation in the country.
The source said that now financial companies have several ways - to address directly to lawmakers through Anatoly Aksakov, or through the economic block of the government - the Ministry of Finance and the tax service, or through the Central Bank. At the same time, despite the lack of regulation, banks can attend the crypto-currency market through their venture companies, which are registered separately, the expert added.