Jeffrey Russia to Enact a Ban on Domestic Operations Of Cryptocurrency Exchanges.
Does anybody know about this?
actually EU wants to implement electronic only €. This of course would be in order to fully track in realtime what people do.
They were vague talks about Russia banning cryto domestically already years ago, but also there's a test drive of electronic ruble....
As for us, it doesn't matter, because many exchanges are people living outside Russia and outside EU. They have accounts in Russia, but the crypto operation doesn't happen in Russia, ie. in ₽, but in another currency. They convert BTC you give then into that 3rd-party currencies, then convert from there to ₽. Their fees are integrated in the % they take for what we see as one conversion BTC->₽.
These days such exchanges are in Singapore, Hong-Kong, Dubai, Georgia, Paraguay, Seychelles, etc. Basically at places out of inquisitive jurisdictions.
By now I fear more EU plans. It may become impossible to do BTC operations outside state-approved domestic trading services that will ban BTC transactions as per recipient. There will be work-arounds but the hunt will also adapt, etc.