As reported by a Russian media, one of the exchanges operating in Russia, Bestchange.ru, has been blocked for the third time in 3 years because the assets it manages, such as Bitcoin (BTC), would be banned in the country.
The story dates back to the beginning of the year when as many as 7 websites had been blocked by the court of the city of Kotlas.
After all this time, only Bestchange.ru received the notice that the website had been blocked and this allowed the team behind the platform to file a complaint, which was only presented a few days ago.
The accusation refers to article 15.1 of federal law number 149-FZ of July 27th, 2006 which is called “On Information, Information Technologies and Information Protection”, a law that predates Bitcoin and is not in line with new technologies such as blockchain.
In practice, this portal was blocked for the first time in 2017, so during the whole crypto euphoria. The following year the order was withdrawn only to have the platform blocked again in 2019 along with other crypto companies operating as exchanges in the Kuibyshevsky District Court of Omsk.
Shortly afterwards the order was again withdrawn in May of the same year and the website was removed from the blacklist.
It should be noted that starting from the new year, a revised regulation will come into force in Russia that will allow crypto transactions, but these cannot be used to buy goods and services, so they will not be considered as means of payment.
The scenario is not simple because if we refer it to an exchange where it is possible to buy crypto with other cryptocurrencies it is quite complicated and the law is difficult to interpret.
If there will be positive developments then we may see an explosion in the use of exchanges and obtaining crypto assets in Russia.
The latest data from Paxful are in favour of an increasing adoption that could push the prices of assets, and many people expect Bitcoin (BTC) to reach a new ATH (All Time High) because of this.