Hot Topics

Advertisement

Advertisement

The Russian Federation Cracks down on anonymous online Wallet deposits

 
The Russian Federation Cracks down on anonymous online Wallet deposits
Breaking News / Crypto Market
  • Anonymous deposits to online wallets have been banned by the Russian Federation in a move that will affect more than 10 million users all across the nation. 
  • According to regulators, this new Initiative is supposed to avoid any illegal or illicit activity such as the financing of terrorism and the illegal drug trade. 

Anonymous deposits to online wallets have been banned by the Russian Federation in a move that will affect more than 10 million users all across the nation. 

According to regulators, this new Initiative is supposed to avoid any illegal or illicit activity such as the financing of terrorism and the illegal drug trade. 

In Russia, there are many popular online wallets such as PayPal. These kinds of services can maintain millions of users who will be active on their accounts anonymously and will top them up with cash every now and then. 

Some people will use these bullets to purchase Cryptocurrency and even though there are no real solid numbers on this, it is well known that people use these kinds of platforms within the digital asset space.

It is believed by some that these effects won’t have an impact on the blockchain industry. One economist, Antonina Levashenko believes this and adds that as Russia makes its anti-money-laundering procedures stricter, the current ban may eventually apply to the world of crypto.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

You can share this post!

Advertisement