Head of VTB Capital Investments says lack of civilized digital asset market in Russia causes problems

VTB Capital Investments consider it necessary to develop a civilized market for exchange of digital assets in Russia, said Vladimir Potapov at “RUSSIA CALLING!” investment forum, expressing hopes that a positive shift in this area will happen in 2022.

“Russia passed the “Digital Financial Assets” law. But market players still have many questions about the regulatory basis, taxation for digital asset transactions. Unfortunately, this prevents us from providing our customers with an opportunity to invest into digital assets, for example, via VTB My Investments, which would only be logical and convenient. The lack of a civilized digital asset market in Russia hurts the budget and responsible market players”, — noted Vladimir Potapov, CEO of VTB Capital Investments, Senior Vice-President of VTB.

The head of VTB Capital Investments believes that establishment of a regulated digital asset exchange market on the basis of the adopted law would require law-making activities and discussions of the issue with the Central Bank of the RF.

“There’s no denying the existence of the digital world. We spend a lot of time on our mobile phones: seven hours a day on the average across the world. This is why development of a digital asset market is of utmost importance. I believe there is potential for development in this area”, — said Vladimir Potapov.