Crypto currency financial center from Russia to Chinese border

Crypto currency financial center from Russia to Chinese border

The Russian government is considering building a financial center for crypto money on the Bolshoi Ussuriysky Island, which is located within the borders of both Russia and China.

According to the news in Bein Crypto, Russia's St. Crypto currencies were a hot topic at the International Economic Forum, which began in St. Petersburg and ended on June 8th. Many state representatives from different countries discussed this issue.

IPA President Leonid Petukhov, responsible for the development of exports and investment in Russia, said the Russian government plans to establish a financial center on the China-Russian border. This was first announced by TASS, Russia's largest news agency.

Stating that the Bolshoi Ussuriysky Island on the Amur River was the first thought for this work, Petukhov said that the island, which is located within the borders of both Russia and China, would allow cooperation between the two countries.

According to Petukhov, the financial center is planned to function as a headquarters for crypto currency trading, crypto currency exchanges and other foreign exchange markets.

There are two islands that Russia currently uses as a financial center, and the residents of these islands are completely exempt from income tax on dividends and profits from the shares of foreign companies.

Leaving aside these two financial centers, which have nothing to do with crypto money, this center, planned to be implemented on the Bolshoi Ussuriysky Island, will be the first in this sense.

If we look outside Russia, we see that the Philippines already has a crypto-currency innovation center called the Cagayan Special Economic Zone. The region, which has been investing heavily since last year, is said to have made the biggest leap in the last twenty years.