Russia Denies Plans to Ban Bitcoin Purchases on Foreign Exchanges
Main page News, Russia, Cryptocurrency, Regulations
Hot topic
13 October
317 317

The Russian authorities do not plan to ban citizens from buying cryptocurrencies on foreign exchanges, Interfax has reported citing the country's Deputy Finance Minister Alexey Moiseev.

In particular, he has said:

"Citizens can buy and use wallets outside the Russian Federation. So it will remain so, I think. There are no plans to change anything yet."

According to him, regulators will focus on banning the use of digital currencies as a means of payment within the country in order to avoid losing control over the money supply.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

He has added:

"Of course, a Russian citizen can have an open wallet outside the Russian Federation, but it is transactions within the Russian Federation that will be subject to bans, I believe, for the foreseeable future."

Russian laws recognize cryptos as property and prohibit their use to pay for goods and services in the country.

Read also:
Please describe the error