Russia is expected to block foreign cryptocurrency exchange websites as early as this summer, as industry experts predict that Roskomnadzor will begin restricting access to platforms like Bybit and OKX, similar to previous measures taken against sites like YouTube. This move aligns with the Russian government’s commitment to introduce new regulations for the crypto market by July 1, which aims to establish a framework for local operations while potentially confining trading to licensed domestic platforms, similar to regulations in Belarus. Analysts warn that such restrictions may lead to increased fraud and higher fees, rather than creating a transparent market, as many existing transactions occur outside the regulatory framework.
Russian Government plans summer block on foreign crypto exchanges
