Early this year, the Deputy Minister of Finance in Russia had suggested cryptocurrency prohibition expecting that the project of law, which was created for the penalization of Bitcoin and other cryptocurrency could pass to the State Duma.
However, in July Russia loosened the position concerning the prohibition of cryptocurrency by adding some new changes to the bitcoin and other cryptocurrencies prohibition bill that could let to purchase cryptocurrency as well as Bitcoin in the country. This would allow using cryptocurresncies for selling in other countries too. Therefore, several days after Russian gowernment stated his new position about the prohibition of cryptocurrency in the country Moscow has anounced about starting the first Russian Bitcoin and cryptocurrency exchange.
Considering that, the Russian government decided to cancel the collection of fines, which could be up to $38,000, from everyone caught in Bitcoin or other cryptocurrency transactions in the country, and the starting of the first Russian cryptocurrency exchange, it looks like Russia now will acceted cryptocurrency and make a new step to the digital era.
The cryptocurrency exchange, which was started in Moscow, plans to provide the new autonomous all the time Bitcoin or other cryptocurrency exchange service. This Moscow’s Bitcoin exchange presently permits just unilateral payments, it means that the users of this exchange just can sell their Bitcoins but the buying of Bitcoin is unavailable at the exchange for today.
As the exchange will be opened twenty-four hours a day and seven day a week its users allow to make cashless payments and bitcoin transactions all the time. A transaction fee of 4 percent is applicable during the day from the BTC-e exchange and increases to 10 percent in the evening.
The creators of this first Russian cryptocurrency exchange plans to make an official registration of the exchange that they will not have any issues with Russian authorities.