Aksakov: restrictions on Russians bitcoin exchanges – another argument against the legalization of cryptocurrencies

Aksakov restrictions on Russians bitcoin exchanges - another argument against the legalization of cryptocurrencies

Aksakov: restrictions on Russians bitcoin exchanges – another argument against the legalization of cryptocurrencies

The head of the State Duma Committee on the financial market, Anatoly Aksakov, said that the restrictions imposed by cryptocurrency exchanges for users from the Russian Federation became an additional argument against the legalization of crypto assets. Writes about it Interfax.

He noted that his own position in relation to the regulation of digital currencies has changed amid sanctions. Previously, the official supported the legalization of cryptocurrencies with the introduction of strict control:

“Now the question has arisen that we have the world’s largest exchange, which is not tied to a particular country, has limited operations for Russian participants in this market. There is a feeling that there will be other restrictions. Everything suggests that the crypto market is regulated from the USA,” Aksakov believes.

He hoped that in the near future the authorities would pass a law on the regulation of cryptocurrencies, but now he believes that they “will launch a broad discussion after the May holidays.”

As a reminder, on April 21, the Binance exchange announced restrictions for accounts of residents of the Russian Federation where the total value of crypto assets exceeds €10,000. The measures followed the adoption fifth round of EU sanctions against Russia because of the invasion of Ukraine.

Binance CEO Changpeng Zhao said that Russia will not be able to use crypto assets to circumvent sanctions.

Prior to this, restrictions for Russian users were introduced by cryptocurrency exchanges. Kuna, WhiteBIT and CEX.ioas well as the leading cryptocurrency exchanges in South Korea, including Bithumb, Upbit, Coinone and Korbit.

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