On August 23rd, according to the Russian newspaper Kommersant, Russia plans to establish two cryptocurrency exchanges to support trading, one in Moscow and the other in St. Petersburg. According to people familiar with the matter, these exchanges may operate under an experimental legal framework, in which the St. Petersburg exchange may be based on the existing St. Petersburg foreign exchange exchange （СПВБ）。 Initial plans include the creation of stablecoins pegged to the yuan and the BRICS currency basket. However, due to the risk of sanctions, experts believe that the functions of these exchanges may be limited, and initially mainly for large blue-chip enterprises.