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Russian crypto websites go dark ahead of new crypto regulations

Russian crypto websites go dark ahead of new crypto regulations

Russian crypto websites have come under state’s lens ahead of the upcoming new cryptocurrency laws. Various online cryptocurrency news, aggregators, trading, and payment portals are stopped in light of the new crypto regulations due to come into effect in January 2021.

Many famous websites reported receiving blockage notices. The restrictions have been put in place by the Federal Service for Supervision of Communications, Information Technology and Mass Media or commonly known as Roskomnadzor.

A well-known crypto website bestchange.ru is also down currently and it has apprised its users through a Facebook post. Interestingly, many websites will be pursuing a legal route to protest against the digital blockade affecting Russian crypto websites.

Crackdown on Russian crypto websites

As per the statement from Bestchange.ru, they are working to find alternatives or domain unblocking to serve their customers. Started in 2007, the website is popular among Russian crypto enthusiasts as it delivers live crypto rates, banking, and exchange rating services. Roskomnadzor has stopped bestchange.ru twice in the past. A court order justified the prohibition by saying that providing Bitcoin-related information is illegal.

Additionally, Kotlas city court passed an order for blocking seven Russian crypto websites earlier this year. Roskomnadzor implemented the order immediately. Other notable Russian crypto websites that have come under the hammer include prostocoin.com, bitok.shop, cryptorussia.ru, and more.

Authorities want to restrict crypto information

As per the official statement, these Russian crypto websites disseminate prohibited cryptocurrency-related information within the country and are listed under the prohibited websites registry maintained by Roskomnadzor.

The team behind Bestchange.ru is not officially down and they are preparing to move court against the order. Furthermore, the matter is likely to reach a higher court in its next hearing. The new crypto regulations are due to come into effect early next year. However, the Russian crypto websites are not blocked in connection with these laws. Instead, the authorities say that cryptocurrencies will get legal status once the new laws come into force.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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