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Russia Ban on Crypto Payment – Boon or Bane For Country’s Economy?

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Recent crypto updates are coming from Russia. The country plans to put a ban on crypto payments. As per a report in Izvestia, the Central Bank of Russia might impose this ban in the coming days. As of now, there is no punishment on trading Bitcoin and other cryptos in Russia. 

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Russian Regulators plan this ban to curb the crypto-related crimes in the country. However, there is no official announcement yet. However, Lawyers disagree with this approach. They believe that the ban might hinder Russia’s Economic growth. Antonina Levashenko, head of the Russia-OECD Center for RANEPA, has warned that the bill could foster the development of a gray market.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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