How should cryptocurrency turnover change in Russia? What awaits exchanges and exchangers – Russian and foreign?
There are no exchanges or exchange offices in the country created in accordance with Russian law; they are all, so to speak, outside the boundaries of the Russian Federation.
Today, a Russian user can only enter and exit crypto via p2p. We don’t take into account individual transactions “between comrades” in a dark corner for cash.
Will the laws adopted today change this reality? More likely not at all than yes in any way.
If the ban on cryptocurrency circulation had passed, then we could have discussed the consequences that would not allow the exchange business to be organized according to Russian law. And foreign exchangers and stock exchanges would most likely have started working only through VPN. It could have been unpleasant, but it’s good that it didn’t happen. The public was listened to and the ban was eventually removed from the bill.
MPs promised to lift the ban on cryptocurrency advertising — but it remains. What does this mean for exchanges, exchangers — and who else?
The advertising ban is perhaps truly unpleasant.
Due to the fact that we like to interpret the norms of the law broadly, and especially those norms that can be interpreted in this way, at first almost everything will fly in here.
One thing is already clear: advertising with the slogan “we have the most profitable bitcoin/cryptocurrency exchange” will be unacceptable from September 1, 2024. But no one has forbidden changing the wording, you can think about it.
Exchanges and exchangers will have to edit their marketing materials and advertising campaigns aimed at the Russian circuit.
It is difficult for me to answer now who else the norm may apply to. Only law enforcement practice, court decisions, and explanations from authorized bodies will show this.
Almost all of them! But they themselves achieved and wanted this.
The story began with stolen electricity. Apparently, so much was stolen that it reached the presidential administration.
Miners are now required to be in the registry. The authorities are supposed to activate the registry on November 1. This is a delayed procedure, we need to prepare.
Miners will be required to report on the mined cryptocurrency to the authorized body, and to report to it on all mined cryptocurrency sold. The authorized body will be appointed by the government in the near future.
Miners are required to comply with anti-money laundering laws. But there is nothing strange about this, rather, everything is natural.
What else will change in the fall?
As part of the experiment, it will be possible to pay with digital currency in foreign trade contracts.
As part of the experiment, we can see bitcoin on mosbirzhe in the product status.
Fines for violating the bans have not yet been established. And it is difficult to predict when they will appear. Let us recall that in Russia, a ban on payments in digital currency has been in effect for more than three and a half years. But fines are still not provided.
Source: Bits

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