What did the blocking of banking operations on the accounts of bitcoin exchanges in Russia lead to?

Experts commented on the situation related to the blocking of banking operations on the accounts of bitcoin exchanges in Russia

The planned activities related to the development of mechanisms for blocking banking transactions on the accounts of cryptocurrency exchanges and exchange sites aroused great interest from the public. According to experts, after the innovation, it will be more difficult for users of digital money to conduct various transactions. It is also quite possible that the changes will affect the value of the coins, namely, it will increase dramatically.

According to the head of the financial and technical company Exantech D. Voskvitsov, the regulator justifies its decisions by the desire to control those financial flows that are not easily monitored. He added that it is not difficult to technically reproduce such a mechanism. In his words, exchanges do not have an infinite number of accounts, their change does not occur as often as it seems initially. The usual blocking of accounts for any transactions on the exchanges, combined with the monitoring of their sites, is one of the possible solutions. This will significantly complicate the implementation of procedures for users, they will lose the ability to replenish their own accounts.

As S. Troshin, who is the head of the Six Nines data center, recalls, a similar mechanism was used in relation to gambling. At the moment, users have lost the ability to transfer funds to poker rooms using Russian cards (Mastercard, Visa).

The mechanism in practice looks like this: cards are analyzed in depth, and questionable payments are rejected.

S. Troshin notes that inclusion in the forbidden list of crypto-exchanges will not complicate the process and will force many users to refuse purchases in this way. The entry cannot be done without reason - a legal basis will be required.

S. Troshin also emphasizes that such attention to cryptocurrency from the side of legislation can lead to an increase in its value, as well as the formation of various shadow methods of conducting transactions.

S. Mendeleev notes that he has not recorded a single complaint among users regarding the "emotional acquisition of cryptocurrency". He explains this by the fact that today more than 80% of users are in the black (in some cases, this mark reaches 95%). This is one of the valid versions.

At the same time, S. Mendeleev recalled the multiple complaints of users who suffered from fraud when transferring P2P funds. In his opinion, the Central Bank of the Russian Federation should primarily direct its actions and attention to this phenomenon. The following options for solving the problem are suitable here: blocking new cards, which suddenly receive huge amounts of dubious origin, for a certain time and the need to confirm the legitimacy of the operation.

S. Mendeleev also says that today, passing the currency control and sending large sums to the accounts of Western crypto-exchanges is a difficult task. Personally, he did not manage to perform this action even once, although he turned to the services of various banks.

S. Mendeleev is aloof to the option of freezing credit card payments, considering it a difficult task from the technical side of its implementation.

He also notes that the cryptocurrency was originally created to protect against any crazy attempts at such regulation. Its capabilities may well ensure this 100%.

As you know, the Bank of Russia has disseminated information that cryptocurrency is a monetary surrogate that will never receive approval to use it as a payment instrument in Russia.