Russia has announced plans to implement a comprehensive ban on the public use of cryptocurrencies starting September 1, 2024. The ban, announced by Anatoly Aksakov, Chairman of State Duma, will restrict the circulation of all cryptocurrencies except for state-issued digital financial assets, such as the digital ruble. This move is aimed at reinforcing the dominance of the ruble and addressing concerns that cryptocurrencies like Bitcoin are replacing the national currency. Exemptions from the ban include cryptocurrency mining operations, which are significant for their contribution of $2.6 billion in liquidity for trade. Additionally, the creation of domestic crypto exchanges and payment services will be prohibited, the advertising of cryptocurrencies will be banned, and only miners and projects approved by the Central Bank will be allowed.
#Russia to Enact Prohibitions on Internal Organization of #Cryptocurrency Exchanges https://t.co/vbd7Vq804m
#Russia to Enact Ban on Domestic Operations of #Cryptocurrency Exchanges https://t.co/vbd7Vq804m
#Bitcoin drops below 60,000 #Ethereum falls below 3,000 - Could this selloff be linked to Russia's cryptocurrency ban? https://t.co/6C3YyTjBHw
UPDATE: Starting September 1, Russia will enforce strict regulations on the public use of cryptocurrencies, only allowing digital assets issued within its jurisdiction. There’s more. Find out: #Russia (By: @ComposableD) https://t.co/ND8HOAD2VK
Russia Preparing for Complete Crypto Ban!? What's really going on? Click HERE 👇 >> https://t.co/q0Hed3IV7p https://t.co/BfiMojdHyA
Russia is banning bitcoin lol https://t.co/W8WRDRzM0t
The Russian Parliament proposes to ban the organization of cryptocurrency circulation in Russia from September 1, 2024, as well as the advertising of cryptocurrencies. Only miners and projects approved by the Central Bank will be able to obtain the right. However, this proposal…
💥BREAKING💥 Russia bans the creation of domestic #crypto exchanges and payment services. It does NOT ban #Bitcoin
Russia preparing for total crypto ban. 🇷🇺 https://t.co/kYLsA9tJAz
"Russia bans Bitcoin" is the new "China bans Bitcoin" https://t.co/afZiUylrDe
🇷🇺 JUST IN: Russia will exempt #Bitcoin mining from their crypto ban as it contributes $2.6 billion in liquidity for trade.
🇷🇺 #Russia's Anatoly Aksakov, Chairman of State Duma announces a potential ban on general crypto circulation to bolster the $RUB dominance. Exemptions include digital rubles, local digital assets, and mining operations, which contribute $2.6 billion in liquidity for trade.
If Russia bans bitcoin I vow to never visit Russia! https://t.co/xpfFv3jhrh
🚨 BREAKING 🚨 RUSSIA PLANS FOR TOTAL BITCOIN BAN AMID GEOPOLITICAL TENSIONS RISE. THEY WILL ONLY ALLOW DIGITAL RUBLES NOW. THE NEED FOR A BAN IS BECAUSE BITCOIN IS A CURRENCY THAT REPLACES THE RUBLE AND THEN "THEY'LL FIGHT YOU" PHASE HAS STARTED
JUST IN: Russia 🇷🇺 has announced that it will ban the circulation of #Bitcoin from September 1st, 2024🤡 https://t.co/5ajpSSlOHU
JUST IN: Starting September 1st, 🇷🇺Russia to ban the use of all cryptocurrencies within their borders except for digital financial assets issued by the state 😮 "The need for the ban is because today cryptocurrency is a quasi-currency that replaces the ruble in the country. But… https://t.co/BpRvN8Pv3J
RUSSIA PLANS TO IMPOSE BAN ON PUBLIC CRYPTOCURRENCY USE: WHAT WE KNOW - Russia plans to implement a prohibition on the public use of cryptocurrencies like Bitcoin. The ban will restrict the general circulation of all crypto assets except those officially issued within Russia. -… https://t.co/MgVRKIbH0R https://t.co/QhnruEMNOJ