How should the turnover of cryptocurrencies in Russia change? What awaits exchanges and exchangers — Russian and foreign?
There are no exchanges and exchangers established in accordance with Russian law in the country, all of them are, so to speak, outside the contour of the Russian Federation.
Today, a Russian user can enter and exit the crypt only through p2p. We do not take into account individual transactions "between comrades" in a dark corner for cash.
Whether the laws adopted today will change this reality is more likely not at all than somehow yes.
If the ban on organizing the circulation of cryptocurrencies had passed, then we could speculate about the consequences that would not allow us to organize an exchange business according to Russian law. And foreign exchangers and exchanges would most likely start working only through a VPN. It could have been unpleasant, but it's good that it didn't happen. The public was listened to and the ban was eventually removed from the bill.
The deputies promised to remove the ban on advertising cryptocurrencies, but it remained. What does this mean for exchanges, exchangers — and for whom else?
The ban on advertising is probably really unpleasant.
Due to the fact that we like to broadly interpret the norms of the law, and especially those norms that can be interpreted in this way, almost everything will fly in here at first.
One thing is clear now: advertising with the slogan "we have the most profitable bitcoin/ cryptocurrency exchange" will be unacceptable from September 1, 2024. But no one forbade changing the wording, you might think.
Exchanges and exchangers will have to edit their marketing materials and advertising campaigns oriented towards the Russian contour.
It is difficult for me to answer now who else the norm may apply to. Only law enforcement practice, court decisions, and explanations from authorized bodies will show this.
What is changing for miners?
Almost everything! But they wanted it and they wanted it.
The story began with stolen electricity. Apparently, so much was stolen that it reached the president's office.
Miners are now required to be in the registry. The authorities must activate the registry on November 1. This is a delayed procedure, we need to prepare.
Miners will be required to report for the mined cryptocurrency to the authorized body, and to report to it for all the mined cryptocurrency sold. The authorized body will appoint the government in the near future.
Miners are required to comply with anti-mining legislation. But there is nothing strange here, rather everything is natural.
What else will change in the fall?
As part of the experiment, it will be possible to pay with digital currency in foreign trade contracts.
As part of the experiment, we can see bitcoin on the Moscow Exchange in the status of the product.
Penalties for violating prohibitions have not yet been established. And it's not easy to predict when they will appear. Recall that in Russia for more than three and a half years there has been a ban on the payment of digital currency. But there are still no penalties.