Russia Plans to Block Cryptocurrency Exchanges

Russia plans to block cryptocurrency exchanges

  • In September, cryptocurrency exchanges in China, where digital money is bought and sold for cash, stopped serving customers in the country to comply with government directives.
  • Now, Russia is planning to follow suit and block cryptocurrency exchanges within its borders, CNBC and Russian outlet RBC report.
  • According to CNBC, first deputy director of Russia’s central bank Sergei Shvetsov said at a conference in Moscow on Tuesday morning that the government will block cryptocurrency exchanges.
  • Russian news outlet TASS reported in September that the government was working on some new legislation to cover cryptocurrencies, which will be presented later in October.
  • If Russia blocks cryptocurrency exchanges, it means that the digital currency will lose yet another market.

Bitcoin takes another hit abroad.
Continue reading “Russia Plans to Block Cryptocurrency Exchanges”