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Dec. 7, 2018
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On Thursday, December 4, the cryptocurrency exchange YoBit has ceased to be available to residents of Russia. The reason for the ban is still unknown.

YoBit is a crypto-related trading platform for a wide range of crypto assets similar to bitcoin (BTC). It‘s assumed that the initiator of the ban was the Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor).

At the time of writing, YoBit hasn’t commented the ban.

YoBit is widely known as a crypto exchange, which offered pump of any coin for only one bitcoin. Previously, On October 11, YoBit held a previously announced “pump of a randomly selected cryptocurrency”, which turned out to be PutinCoin token.

Platform’s controversial marketing strategy to win over investors was realized despite the opinion of many crypto community participants that this is just a bad joke and critical remarks on social networks.

Earlier, the president of the Russian Association of Cryptoindustry and Blockchain (RACIB) Yuri Pripachkin said in an interview to local news media Vedomosti that the central bank of Russia misunderstands the situation in the cryptocurrency market and puts crypto companies on pressure rather than helping them.

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