I do not see much positive in this news. Banks will do the trading, they will use their citizens money to do that. Everything will be controlled at bank's end. Government will get taxes out of every trade and then on the total income. Nothing positive except some liquidity flow into the market.
I hope Russia opens up their market for cryptocurrency. That will be a real change and a positive one. If banking controls everything related to crypto for the big-pocket investors, then it's not a real change!
If they succeed with this, then that will probably be their next plan.
As for who controls the trading, it doesn’t really matter since it’s still regulated by the government. The fact that it’s trading in rubles as a crypto pair clearly shows that this is meant to ensure monitoring and control over the trade.
If this works out, they might finally move forward with launching their CBDC, which has been pending for a while now.
Russia is definitely a key player in the crypto market, but all eyes are still on the U.S. president. Whatever moves they make could set the tone for what comes next globally