Russian telecom regulator, Roskomnadzor, has notified the world’s largest cryptocurrency exchange Binance that it blacklisted the exchange for “spreading information related to the acquisition of digital currencies”. Basically, it means that Russian users won’t be able to access the exchange without the use of special tools like VPNs, anonymizers, or proxy servers after the local telecom operators start to enforce the ban.submitted by Stealthex_io to StealthEX [link] [comments]
So far the exchange site is still accessible without taking any additional steps. Binance promises that there will be no disruption to their services for Russian users, and that they are going to challenge this decision in the court of law. Now the exchange is looking for legal counsel before taking further action. Anyway, it seems to remain unflinching in its plan to launch a cryptocurrency payment card for Russian users later this year.
The good news is that many top dogs in the cryptocurrency exchange services arena, for example, LocalBitcoins, have been banned for years, and it didn’t stop crafty Russians from using the services. You wouldn’t really expect highly sophisticated crypto traders to be warded off with these mostly useless measures. Roskomnadzor had become famous for banning Telegram in 2018, and then even more famous for having to admit losing this battle, even though it took two long years and a virus pandemic to recognize the failure.
And the utmost irony in all of this is that the Binance ban is in stark contrast with the recent proposal of Russia’s Ministry of Finance. It came up with a bill on making individuals report their crypto operations for taxes, which kinda assumes legality of these operations. The authority also proposes that cryptocurrency exchanges should quarterly report transactions of Russian users. But seriously, how do they see approaching Binance if it is not supposed to be available from Russia?
If you are going to make sense of it all, you will have a hard time. Any sane person trying to find reason behind the steps taken toward cryptocurrency regulation by the Russian government and its public services would likely end up with cognitive collapse. But it may be a mistake to assume there is a reason in the first place as these moves can be adequately explained by lack of genuine understanding what cryptocurrencies essentially are. You simply can’t fight crypto with bans and prohibitions.
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Original article was posted on https://stealthex.io/blog/2020/09/25/breaking-news-russia-outlaws-binance/
Bitcoin exchange Binance has been blacklisted by regulators in Russia. According to sources such as ForkLog, Roskomnadzor sent a notification to Binance regarding cryptocurrency activities on the exchange and stated that the exchange would blacklist the site for these activities. Binance plans to oppose the statement sent by Roskomnadzor. Russia’s regulator Roskomnadzor has now turned to ... Bitcoin Cash 24h $ 258.12 +2.55%. Bitcoin ... Russian internet censorship agency Roskomnadzor blacklisted Binance in June, but apparently only made the cryptocurrency exchange aware of its ... In the latest show of aggression, Roskomnadzor, the country’s internet security agency, added top cryptocurrency exchange Binance to a set of blacklisted websites banned from the country. Russia’s telecom regulator Roskomnadzor has added Binance, the world’s largest crypto exchange, to the list of blacklisted websites in the country. The exchange was blacklisted on June 2, 2020, but Binance became aware of this only on September 24th, after receiving communication from Roskomnadzor. Reportedly, the telecom watchdog blacklisted Binance because of disseminating data related to the purchase of cryptocurrencies such as bitcoin (BTC). In the announcement, Gleb Kostarev, Binance’s head of operations in Russia and the CIS noted that the exchange unveiled this news immediately after receiving a notification from Roskomnadzor ... Russia's telecom regulator Roskomnadzor has added Binance, the world's largest crypto exchange, to the list of blacklisted websites in the country. The Russia’s internet censorship agency, Roskomnadzor, warned against Binance and included the crypto exchange’s primary website to the country’s prohibited domains list.. This was revealed by the crypto exchange on its Russian Telegram channel, detailing that it received the notice on Thursday, and the action was taken as the platform was offering details on acquiring digital currencies ... The exchange was blacklisted on June 2, 2020, but Binance became aware of this only on September 24th, after receiving communication from Roskomnadzor. In an announcement on its Russian Telegram channel, Binance said it was included on the list of prohibited domains because its website includes information about the purchase and sale of crypto assets like bitcoin ( BTC ). Russia’s telecom regulator Roskomnadzor has added Binance, the world’s largest crypto exchange, to the list of blacklisted websites in the country. According to the announcement on Telegram Channel, Binance said it was included on the list of prohibited domains because its website includes information about the purchase and sale of crypto assets like bitcoin. After getting blacklisted by the Russian Telecom Regulators the Binance platform said the crypto exchange website is still available but without additional access tools and the firm also confirms that the previous crypto funds are secure.. Authorities in Russia seem to be following the largest cryptocurrency exchange because its domain is now listed as one of the country’s illegal websites.
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