Russia authority crackdown several crypto websites without proper review, despite the government’s plan to create crypto regulation.
The Russian authority keeps on puzzling the public regarding their stance towards cryptocurrency. After the president, Vladimir Putin ordered the creation of crypto regulation last month, which many crypto enthusiasts see as pretty “promising”, recent news reported the crackdown of several crypto websites by the government
Read more: Putin orders Russian government to create crypto regulation by July 2019
According to Bitsonline, most of the websites being blocked don’t have proper KYC or even don’t have it at all. That said, the blockade is also performed to a crypto exchange review website, Bestchange.ru.
Bestchange.ru contains information about various crypto exchanges that helps visitors with their decision when it comes to choosing the best exchange for them.
Thus, it’s unclear the reason behind the blockade, which leads to the questioning of the government’s actual stance towards cryptocurrency as well as their consistency with it.
Such incident is actually not the first time to happen in Joseph Stalin’s country. Last November, the Russian Supreme Court ordered the Prosecutor’s office to pay $2,275 to a cryptocurrency news website, Bitcoininfo.ru, after being shut down without obvious reasons in 2016.
While the decision can be considered as an important milestone for crypto industry players and enthusiasts in Russia, it actually took 2 years of legal battle and costed $3,500 for the lawyers alone to get to that point.
Read more: Russia Supreme Court order Prosecutor’s office to pay over $2K to crypto news site
How is Russia’s stance towards crypto and how will it play out in real life? Stick with Chepicap for updates.
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