Crimea prepares law for special economic zone

Noam Stiekema

Crimea prepares law for special economic zone, which will help for the development of the peninsular and will increase the trade quantity. The process of forming the statutory amendments continues, according to the Prime Minister of Crimea Sergei Aksenov. “We do not want this to be an ordinary law that reflects the standard rules already […]

Sergei Aksenov Crimea

Sergei Aksenov CrimeaCrimea prepares law for special economic zone, which will help for the development of the peninsular and will increase the trade quantity. The process of forming the statutory amendments continues, according to the Prime Minister of Crimea Sergei Aksenov.

“We do not want this to be an ordinary law that reflects the standard rules already established special economic zones in some regions in Russia … has an innovative approach that can quickly attract more capital”, added Acting Prime Minister of Crimea area. “Businesses will come here. We still have to filter out all those who are willing to invest in the Crimea”, he concluded.

On July 9, Sergei Aksenov said that the amount of funds allocated from the budget of the Russian Federal Target Program “Social and Economic Development of the Republic of Crimea and the federal city of Sevastopol 2020” will amount to 736 billion rubles. The sum is over six times more than Moscow would give Ukraine 2020. Earlier this week, Russian Prime Minister Dmitry Medvedev said at a meeting of the government to implement all plans in the Crimea, should “create the necessary conditions for economic activity”.

“I mean appropriate economic regime. Working conditions here should probably differ from those in other parts of the country by further reducing administrative and customs barriers and the creation of a more favorable investment climate”, said the Prime Minister of the Russian federation.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”

<