Russian university to consider a crypto exchange on an island next to China

The official social media channels of the Russian Cryptocurrency and Blockchain Association (RACIB) have posted an interesting photo of the proposal for two vice rectors of the Far Eastern Federal University which is situated on the Russky Island next to the border with China.

The deadline for the final evaluation of the usefulness and realism of this initiative is 14 June 2018. The imperative tone of the document may indicate that this is in fact the rector’s instructions. The RACIB social media managers did not highlight the author.

Rumors on the joint cryptocurrency-related initiatives with Chinese have been circulating in the Russian media for several months, but the actual launch of any similar projects was clearly impossible before the implementation of the laws on crypto sphere. They have been adopted on first reading, and their biggest disadvantage is the clear mentioning of the requirement for the prior authorization of cryptocurrency exchanges by authorities.

For Chinese investors, such an exchange would be interesting due to the regulative atmosphere in their own country.

Image: Wikimedia Commons