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Russsia Banning Cryptocurrency-Linked Bank Accounts

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NoLimits15

NoLimits15

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The Russian Central Bank is trying to freeze cryptocurrency-linked bank accounts by saying that they pose a threat to the economy. Guess it's going to be hard now for people in Russia to be able to exchange using cryptocurrencies.
 
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vova11235 said:
When a large country, such as Russia, prohibits operations with cryptocurrencies, it hits the exchange rate of bitcoin and other cryptocurrencies very hard and it is very bad
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This true , I hope the country reserve it decision on Crypto currencies, it is more reason why their hyips usually have Payeer as payment options most often.
 
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They can't loose their nor will it crash of they allow citizens who they are ok with it to use it and run their activities especially.online and also permits Russian exchange sites.
 
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Freezing their account will affect the economy and unemployment rate , because most people there might have various job in the cryptocurrrency sector , just too bad
 
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Since the citizens are fully aware that the country doesn't support Crypto currencies they will be careful with their dealings and it gonna be mostly online including exchange to their local currency.
 
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Nah, not all countries are dependent on Bitcoin or any other crypto. This won't affect their economy much since Russia is not a big market for crypto. Unless we're talking about Russian-based scammers.
 
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I
NoLimits15 said:
The Russian Central Bank is trying to freeze cryptocurrency-linked bank accounts by saying that they pose a threat to the economy. Guess it's going to be hard now for people in Russia to be able to exchange using cryptocurrencies.
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That's too sad to hear , I hope they have a re think , many people without good job are using online work especially trading cryptocurrency to earn , in order to support their offline jobs .
Wonder what they will do .
 
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Josemendez said:
I

That's too sad to hear , I hope they have a re think , many people without good job are using online work especially trading cryptocurrency to earn , in order to support their offline jobs .
Wonder what they will do .
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Banks are not really needed for withdrawing your hard-earned cryptocurrency as payment. There are 52 cryptocurrency ATMs spread accross Russia federation.
 
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Emoney said:
Banks are not really needed for withdrawing your hard-earned cryptocurrency as payment. There are 52 cryptocurrency ATMs spread accross Russia federation.
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Wow!! If they have this good number of Crypto currencies or Bitcoin ATM they shouldn't be thinking of banning Crypto currencies now , I thought they never allowed it.
 
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De-rector said:
Wow!! If they have this good number of Crypto currencies or Bitcoin ATM they shouldn't be thinking of banning Crypto currencies now , I thought they never allowed it.
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Weird stuff happening all over the world everyday. Even today the talk about how the Indian government wants to ban crypto is still ongoing. And yet there's at least one crypto ATM in India.
 
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Let keep living and adapting to whatever situation that government of different countries bring, I know can only be limited locally but as for online it can be stopped, it has come to stay.
 
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I am not sure of that development. If it is however true, it will affect the usage of crypto currency in the country. I learnt crypto currency, Bitcoin to be specific is very popular in Russia. So, how will they cope.
 
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Emoney said:
Banks are not really needed for withdrawing your hard-earned cryptocurrency as payment. There are 52 cryptocurrency ATMs spread accross Russia federation.
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If they actually banned banks bro , what do you think , will stop them from banning , and destroying all the Cryptocurrency ATM stands all over Russia ?
I don't see any other way out for them , except exchanging it to Fiat currency before withdrawing .
 
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Josemendez said:
If they actually banned banks bro , what do you think , will stop them from banning , and destroying all the Cryptocurrency ATM stands all over Russia ?
I don't see any other way out for them , except exchanging it to Fiat currency before withdrawing .
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You have a point @Josemendez. If the can banned banks, what's the assurance that they will not banned crypto ATMs. This move will definitely affect crypto currency in the European country.
 
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It wasn't the government that provided the ATM some are own by big exchangers so if government wanna ban it , they won't take the number of Crypto currencies ATM in to consideration.
 
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Josemendez said:
If they actually banned banks bro , what do you think , will stop them from banning , and destroying all the Cryptocurrency ATM stands all over Russia ?
I don't see any other way out for them , except exchanging it to Fiat currency before withdrawing .
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What makes you think that the underground scene AKA the black market won't be able to built their own Crypto ATM and then share it to the public with a fee? Movie streaming is effectively banned in Russia and yet there's still a lot Russian-based illegal movie streamers.
 
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Emoney said:
What makes you think that the underground scene AKA the black market won't be able to built their own Crypto ATM and then share it to the public with a fee? Movie streaming is effectively banned in Russia and yet there's still a lot Russian-based illegal movie streamers.
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Well , that's true but then , freedom to trade cryptocurrency won't be there anymore . people will be hiding to use Cryptos, and one stands a chance of being punished when caught in the act
 
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Josemendez said:
Well , that's true but then , freedom to trade cryptocurrency won't be there anymore . people will be hiding to use Cryptos, and one stands a chance of being punished when caught in the act
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People will find a way, or protest the government, though that maybe not feasible considering this is Russia we're talking about. Some countries with severe restriction also using crypto as their last lifeline.
 
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NoLimits15 said:
The Russian Central Bank is trying to freeze cryptocurrency-linked bank accounts by saying that they pose a threat to the economy. Guess it's going to be hard now for people in Russia to be able to exchange using cryptocurrencies.
Click to expand...


Freezing cryptocurrency linked bank will not be a welcome idea because most people all over the world are now used to this crypto of a thing to the extend that most uses it for transactions and also patronize different companies and sites
 
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Emoney said:
People will find a way, or protest the government, though that maybe not feasible considering this is Russia we're talking about. Some countries with severe restriction also using crypto as their last lifeline.
Click to expand...
Definetly , they will find a way to continue the Cryptocurrency journey , but then it will be a risky thing .
I think the citizens, should voice out their opinion , government should try and understand them , and lift the ban.
 
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