The largest crypto exchanges may leave Russia

New restrictions from large crypto-exchanges on transactions in rubles caused serious concern in the trading community. The Binance and OKX platforms changed the conditions several times a day, focusing on The Wall Street Journal publications about the circumvention of anti-Russian sanctions by both trading participants and the exchanges themselves.

In the current situation, the likelihood of the largest cryptocurrency exchanges leaving Russia is increasing. However, most experienced traders believe that this will not be the end of P2P trading. In addition to Binance, there are many platforms with good liquidity that do not impose restrictions on transactions in Russian rubles. In addition, many platforms do not require verification to start trading, which makes it easier for domestic traders.

It will not be possible to completely avoid the negative consequences in the event of the departure of large exchanges. The ban on conducting P2P transactions in a currency other than the ruble will reduce the inflow of dollars into the Russian Federation. The new restrictions will especially affect relocators. It will become more difficult for them to receive local currencies and will have to use the services of currency exchangers.

Meanwhile, in the Russian Federation, they can streamline the activity of mining cryptocurrencies. The Ministry of Industry and Trade is considering an initiative to assign the code of the all-Russian species classifier to mining economic activities (OKVED). If this initiative is adopted, the mining of cryptocurrencies will become an independent branch of the domestic industry.
  • Photos used: Satheesh Sankaran/
Dear reader, to leave comments on the publication, you must sign in.
  1. k7k8 Offline k7k8
    k7k8 (vic) 30 August 2023 12: 48
    The largest crypto exchanges may leave Russia

    Ohrim died - and to hell with him.

    New restrictions will especially affect relocators

    One thing my head definitely doesn’t hurt about is the fugitives, who were so streamlinedly called relocants
  2. bobnew2017 Offline bobnew2017
    bobnew2017 (Bobylev Alexey) 30 August 2023 18: 51
    In China, not only exchanges, but also mining is prohibited by law. Every kilowatt hour should benefit the people of China and is aimed at producing consumer goods for the whole world. It is hard to imagine the opposite, when everyone is mining, and the factories are without electricity, then the world will end. In Russia, do the same, let Milo roll towards his West and warm the air there!
  3. Online (Alexander Draka) 31 August 2023 23: 03
    Cryptocurrencies in general would be strongly limited, tk. contribute to the unjustified enrichment of an unnamed circle of people and hide transactions from law enforcement officers. But in fact it is an American proxy of the dollar! Let's move away from the dollar to cryptocurrency? Yes, well, her! This is the essence of the pyramid!
  4. The comment was deleted.