MOSCOW, June 1. /TASS/. A shift in the balance of power toward the regulated market, with it surpassing the global market in trading volumes of major cryptocurrencies among Russian investors, will occur no earlier than in two to three years, Cifra Markets Executive Director Alexey Korolenko said in an interview with TASS ahead of the St. Petersburg International Economic Forum (SPIEF).
"According to my forecasts, a radical shift in the balance of power toward the regulated market, with it overtaking the global market in trading volumes of major cryptocurrencies among Russian investors, will happen no earlier than in two to three years," he said.
Korolenko also added that the main result of regulation will be the "legalization" of the existing market, bringing it into the legal framework with clear and understandable operating rules, as well as the creation of infrastructure for trading cryptocurrencies and crypto assets.
The St. Petersburg International Economic Forum will take place on June 3-6. The forum’s main theme is "Pragmatic Dialogue: The Path to a Stable Future." The program is focused on shaping a new model of global development amid the transformation of the world economy.
The agenda includes the SME Forum, the Creative Industries Forum, the International Youth Forum "Day of the Future," and the Pharmaceutical Security Forum. The cultural program will feature the Petersburg Seasons festival, as well as the traditional SPIEF Sports Games.
The forum is organized by the Roscongress Foundation. TASS is the forum’s general information partner.