Russia restricts access to prominent crypto exchange aggregator
The website BestChange has encountered several restrictions in the past due to purported violations of Russian federal laws. Read Full Article at RT.com
TroibNews 
BestChange, a significant cryptocurrency exchange aggregator, has encountered multiple restrictions in the past for allegedly violating Russian federal laws. Recently, Russia has blocked access to the platform, as indicated by Roskomnadzor, the country’s media regulator, in its official registry of prohibited websites.
Founded in 2007, BestChange is an online service that tracks exchange rates for various e-currency exchangers, facilitating over-the-counter cryptocurrency trading in Russia and Eastern Europe.
While Roskomnadzor has not provided an official explanation for the current ban, users attempting to access the website are met with a notification informing them that the site is unavailable.
In a Telegram post on Sunday, BestChange confirmed the restriction, stating that the website could not be accessed through Russian internet service providers. The company added that its legal team is actively working towards resolving the issue.
BestChange has faced similar blocks by Roskomnadzor in 2017, 2019, and 2020, but in each instance, legal action successfully lifted the restrictions. Previously, the watchdog stated that information about Bitcoin that was publicly available violated federal laws in Russia and therefore was prohibited.
“Based on our team’s experience, if everything follows the standard scenario, unblocking may take about a week,” BestChange senior analyst Nikita Zuborev told RBK Crypto on Monday. He highlighted that the process is complicated by bureaucratic obstacles, as they have not received any information from the agency regarding the reasons for the blockage.
In August 2024, Russia implemented a law banning the advertising of cryptocurrency to the general public, along with the promotion of goods or services that facilitate digital currency transactions. This legislation also prohibits the advertising of digital currencies and services, such as crypto exchanges or wallets, with administrative penalties for violations.
This ban mirrors Russia’s recent legislation that restricts cryptocurrency mining in certain regions until 2031 to mitigate potential power shortages caused by such activities. While virtual currency mining for legal entities and business owners was previously legalized, rules have since been established to govern mining activities, particularly concerning individuals or entities tied to the power industry.
Last year, Russian President Vladimir Putin emphasized the need for regulating cryptocurrencies and digital assets, calling it a promising area and urging the establishment of conditions for the circulation of digital assets both domestically and with foreign partners.
Mark B Thomas for TROIB News
Founded in 2007, BestChange is an online service that tracks exchange rates for various e-currency exchangers, facilitating over-the-counter cryptocurrency trading in Russia and Eastern Europe.
While Roskomnadzor has not provided an official explanation for the current ban, users attempting to access the website are met with a notification informing them that the site is unavailable.
In a Telegram post on Sunday, BestChange confirmed the restriction, stating that the website could not be accessed through Russian internet service providers. The company added that its legal team is actively working towards resolving the issue.
BestChange has faced similar blocks by Roskomnadzor in 2017, 2019, and 2020, but in each instance, legal action successfully lifted the restrictions. Previously, the watchdog stated that information about Bitcoin that was publicly available violated federal laws in Russia and therefore was prohibited.
“Based on our team’s experience, if everything follows the standard scenario, unblocking may take about a week,” BestChange senior analyst Nikita Zuborev told RBK Crypto on Monday. He highlighted that the process is complicated by bureaucratic obstacles, as they have not received any information from the agency regarding the reasons for the blockage.
In August 2024, Russia implemented a law banning the advertising of cryptocurrency to the general public, along with the promotion of goods or services that facilitate digital currency transactions. This legislation also prohibits the advertising of digital currencies and services, such as crypto exchanges or wallets, with administrative penalties for violations.
This ban mirrors Russia’s recent legislation that restricts cryptocurrency mining in certain regions until 2031 to mitigate potential power shortages caused by such activities. While virtual currency mining for legal entities and business owners was previously legalized, rules have since been established to govern mining activities, particularly concerning individuals or entities tied to the power industry.
Last year, Russian President Vladimir Putin emphasized the need for regulating cryptocurrencies and digital assets, calling it a promising area and urging the establishment of conditions for the circulation of digital assets both domestically and with foreign partners.
Mark B Thomas for TROIB News
