Russians eye two islands for crypto exchanges

While authorities in Moscow are still fine-tuning their revamped crypto legislation, to be presented for public discussions in October, participants in last week’s Eastern Economic Forum in Vladivostok have been busy discussing regulatory matters related to cryptocurrency mining and the circulation of digital coins in the vast country.

Several Russian regions have been mentioned multiple times as possible crypto offshore zones and regulatory sandboxes. Two of them are Kaliningrad, a Russian enclave between Poland and Lithuania, and Vladivostok, administrative center of Primorsky Krai in the Far East. Both have two discrete territories, Oktyabrsky Island and Russky Island respectively, deemed ideal for such pilot projects.