ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

June 4, 2023

Warren’s alleged work with short-seller shows anti-crypto army heating up

June 3, 2023

Sony Web3 Incubator Aims To Accelerate Japan’s Virtual Expanses

June 3, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

    June 4, 2023

    Warren’s alleged work with short-seller shows anti-crypto army heating up

    June 3, 2023

    Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund

    June 3, 2023

    Blockchain Association Files Another Amicus Brief Supporting Tornado Cash, Says Crypto Mixer Is ‘Simply a Tool’

    June 3, 2023

    BitMEX Founder Arthur Hayes Predicts a Bitcoin Bull Market Ahead, Says To Expect Fireworks – Here’s the Timeline

    June 3, 2023

    The Worst for Bitcoin (BTC) May Not Be Over, According to Bloomberg Analyst Mike McGlone – Here’s Why

    June 2, 2023

    Bitcoin ‘big move’ due in July after March $30K push — latest analysis

    June 2, 2023

    Europe’s right-wing political groups find cause in crypto

    June 2, 2023

    US debt ceiling, declining trust in banks send ETH staking to record highs

    June 2, 2023

    Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns

    June 1, 2023

    Billionaire Mike Novogratz Says One Massive Catalyst Will Send Crypto Off to the Races

    June 1, 2023

    ‘Not just Bitcoin price’ — Dan Tapiero shares tips on navigating the bear market

    June 1, 2023

    Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

    June 4, 2023

    Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund

    June 3, 2023

    Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin

    June 3, 2023

    Under-the-Radar Ethereum (ETH) Competitor Pumps by 50% This Week Amid New AI Partnership

    June 3, 2023

    Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

    June 4, 2023

    Warren’s alleged work with short-seller shows anti-crypto army heating up

    June 3, 2023

    Sony Web3 Incubator Aims To Accelerate Japan’s Virtual Expanses

    June 3, 2023

    Musk’s alleged price manipulation, the Satoshi AI chatbot and more

    June 3, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    Tether PUMPING BTC!? Why Stablecoin Market Cap Matters!!

    June 3, 2023

    Gensler Raises Army Of Minions In Crypto! #shorts #youtubehorts #crypto

    June 2, 2023

    Bitcoin 4 Year Cycle UPDATE!

    June 2, 2023

    CNBC Host STUNNED 🤯 After Billionaire’s Bitcoin Prediction

    June 1, 2023

    It Is OK To Take Profits! ($BEN Will Go Up And Down)

    June 1, 2023
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.00-1.46% 24H
    BITCOIN
    24H : -1.46%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-1.03% 24H
    ETHEREUM
    24H : -1.03%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.15% 24H
    TETHER
    24H : -0.15%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-1.30% 24H
    BNB
    24H : -1.30%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.00-0.12% 24H
    USD COIN
    24H : -0.12%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-3.25% 24H
    XRP
    24H : -3.25%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-1.87% 24H
    CARDANO
    24H : -1.87%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.98% 24H
    LIDO STAKED ETHER
    24H : -0.98%
    Volume : $0.00
    Marketcap : $0.00
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.00-1.46% 24H
    BITCOIN
    24H : -1.46%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-1.03% 24H
    ETHEREUM
    24H : -1.03%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.15% 24H
    TETHER
    24H : -0.15%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-1.30% 24H
    BNB
    24H : -1.30%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.00-0.12% 24H
    USD COIN
    24H : -0.12%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-3.25% 24H
    XRP
    24H : -3.25%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-1.87% 24H
    CARDANO
    24H : -1.87%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.98% 24H
    LIDO STAKED ETHER
    24H : -0.98%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » Here’s Why Russia Has Issued a New ‘Crypto Payments Ban’
News

Here’s Why Russia Has Issued a New ‘Crypto Payments Ban’

Crypto NewsBy Crypto NewsJuly 18, 20220 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Vladimir Putin, the president of the aggressor state of Russia, has signed a new law that will ban the use of cryptoassets and other “digital assets” in the payments space – even though crypto pay is already illegal in the country.

The use of cryptocurrencies as a means of payment was prohibited in January 2021, when Law 259-FZ (which passed the State Duma in mid-2020) was officially adopted in Russia.

The new law, which comes into force at the end of this month, does little but reinforce Law 259-FZ. It does, however, contain more detail and does away with some of the sometimes confusing and vague terminology used in the 2021 law.

The outlawing of crypto payments is the only crypto-related point upon which the Ministry of Finance and the Central Bank actually agree. The ministry, which has created a bill aimed at regulating crypto, would like to legalize the industry, while the Central Bank favors a total ban. Lawmakers will hope that now that the ban on crypto payments has been reinforced, the two parties will hurry up and reach a compromise on crypto policy.

The new law also makes specific mention of security tokens and utility tokens, which are expressly outlawed as a means of payment. It adds that no “goods, performed works, or services rendered” can be exchanged for cryptoassets or other forms of digital payment.

A leading Russian crypto blog channel named SelfInvestorz noted in a post that “experts agree that the new law will not have a significant impact on the market,” as crypto payments is a very small niche in Russia. Few if any Russian companies have pursued crypto payments-related initiatives.

The blogger added that the law will simply “strengthen the role of the ruble as the only legal means of payment” in Russia.

And, the same blogger wrote, the development is both “good and bad news” for crypto advocates.

They added that the good news was that “regulation is always a harbinger of stability,” which could lead to “industry development.”

But the “bad news,” the blogger concluded, was that regulators would inevitably “get to” the sector, and would follow up with “additional restrictions, obstacles, bans, fees, commissions, and taxes.”

Meanwhile, Russian psychologists are reporting a spike in the number of patients admitted with addictions to crypto and stock trading.

The media outlet Izvestia reported that the Dr. Isaeva rehabilitation center in Moscow stated that it had seen a rise in cases related to cryptoassets. The center noted that many of the admissions had previously shown signs of addictive behavior, such as “gambling.”

The clinic reported that the “average age of cryptocurrency addicts” was around 30.

An expert from the clinic was quoted as stating that many addicts turned to crypto after they had lost large amounts of money elsewhere and were no longer able to trade on the stock exchange.

The expert added that crypto trading addicts’ behavior had much in common with both “alcoholics and workaholics.”

Leonardo Guevara, a psychiatrist, narcologist, and psychotherapist at the Marshak Clinc, was quoted as explaining that stock trading addicts were more likely to turn to psychiatrists for help, while crypto trading addicts are more reluctant to seek assistance.

Guevara concluded that an “impulsive desire” to perform crypto-related “actions” spurred some trading addicts to chase the “feelings of euphoria and excitement” often associated with buying and selling tokens.

____

 
– Central Bank: No Place for Stablecoins in Russian Economy, Only Digital Ruble Will Do
– Russian Ministry of Finance Says There’s No Place for Crypto in Oil Trading

– New Law Would Ban Crypto Pay in Russia (Again) as Miners Struggle to Convince Central Bank to Legalize Industry
– It Might Be ‘too Early to Celebrate’ Russia’s New Crypto Law

– Putin Bids to Create New International Settlements Platform, Reform Foreign Currency Rules
– Moscow Exchange Should Launch a Crypto Trading Platform, Says Top Russian Politician

Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

June 4, 2023

Warren’s alleged work with short-seller shows anti-crypto army heating up

June 3, 2023

Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund

June 3, 2023

Blockchain Association Files Another Amicus Brief Supporting Tornado Cash, Says Crypto Mixer Is ‘Simply a Tool’

June 3, 2023

Coinbase Derivatives Exchange To Launch ‘Institutional-Sized’ Bitcoin (BTC) and Ethereum (ETH) Futures Contracts

June 3, 2023

Breaking – Atomic Wallet Hacked, Crypto Analyst ZachXBT Investigates

June 3, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

June 4, 2023

Warren’s alleged work with short-seller shows anti-crypto army heating up

June 3, 2023

Sony Web3 Incubator Aims To Accelerate Japan’s Virtual Expanses

June 3, 2023
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.