We read about how Russia government wants to go on an experiment for some investors to be dealing with cryptocurrencies directly with the government but I do not know it will be also under government created exchanges. I do not like this move at all. I prefer the private exchanges. Russia does not want to license private exchanges but prefer it to be governmental. This is not making any sense in 21st century.
The national crypto exchange will be launched and regulated by the Ministry of Finance and the Central Bank of Russia, but only for the super-rich, qualified investors, not for retail investors. Only investors with income over $500,000/year, portfolio over $1 million...can use that exchange.
The aim is to more closely control and monitor large money flows, facilitating cross-border transactions to reduce dependence on the traditional financial system, which is struggling due to sanctions...
Additionally, they are also planning to launch their own stablecoin to reduce their dependence on USDT or other stablecoins that may be frozen by the US and Europe .
There are shady or scam exchanges from Russia like Yobit, Livecoin and more, I can not remember all of Russian exchanges.
FTX is a US exchange and the 2nd largest exchange in the market but also a scam exchange, similar to Mt.gox, an exchange from Japan...Any centralized exchange can turn into a scam one day, not just Russian exchanges.