#crypto trading

The government and central bank of Russia are now working on a draft law that will treat cryptocurrency as an “analogue of currencies” rather than digital financial assets. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries. Bitcoin transactions and possession of cryptocurrency in the Russian Federation must be done through a digital currency exchange organizer (a bank) or a peer-to-peer exchange licensed in the country. Those who illegally accept cryptocurrencies as payment will incur fines. This is a development for Russia compared to January wherein the Bank of Russia called for a nationwide crypto ban and said that financial firms should not facilitate crypto transactions. Additional reports also emerged the President Vladimir Putin supports efforts to regulate the country’s crypto mining sector. As one of the social cryptocurrency operators, MoonXBT combines socializing and trading by creating a blockchain neighborhood for the crypto world. MoonXBT provides contract trading, social interaction, and one-click copy trading services for global traders. Read more in our articles including "Russian gov’t, central bank to regulate cryptocurrencies" and "MoonXBT offers cryptocurrency trading services".