Kochetkov is referring to digital assets that have passed through addresses or platforms that have fallen under international sanctions. For foreign counterparties, such assets are considered toxic, explained the investment expert: their use is associated with high compliance risks. Because of this, the Russian crypto market may become specific – and trading such assets will likely have to be done at a discount compared to global prices, believes Kochetkov.
The consequences could extend beyond simply limiting access to global capital, the top manager is convinced.
"This factor could indeed make the Russian market extremely exotic – with a substantial discount to international benchmarks. This is no longer just 'cutting off liquidity' – it's about forming a separate, isolated price circuit, living by its own rules," explained the head of "Finam" in an interview with TASS.
The "Russian circuit" will function autonomously, with its own pricing mechanisms and operating rules, differing from those accepted on the international market, Kochetkov suggested.
Earlier, Bank of Russia Governor Elvira Nabiullina stated that the Central Bank is considering the possibility of using stablecoins in international settlements, but only as a supplement to the digital ruble. The regulator views these digital assets "with apprehension." Before that, the official said that cryptocurrency is an asset subject to international sanctions, which could be blocked in Russians' wallets at any moment.
Starting September 1, cryptocurrency trading is set to begin in Russia through licensed intermediaries. The Central Bank will only allow trading of three digital assets – these are Bitcoin, Ether, and the US dollar stablecoin USDT from the American company Tether.
