Regulation· ★★★· neutral·

Experts Weigh Real Cost of Entering Russia's Legal Crypto Market Under 282-FZ

  • —282-FZ puts crypto exchanges and depositories on par with professional market participants
  • —Industry cites entry costs of $500,000 for an exchange and from $5 million for a depository
  • —GMT Legal lawyer estimates legal status can be obtained for up to $100,000
  • —Business reputation requirements for executives called standard for financial market
Why it matters: The cost of entry will determine whether Russia's legal crypto market stays open to smaller players or concentrates among a few large firms.
Source: BeInCrypto RU
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