According to a report by Roskomnadzor, OKX published material connected to the operations of financial pyramids, as well as info on the supply of financial services by individuals who do not have the authorization to give them in violation of Russian legislation.
This platform is restricted in Russia, but using a VPN, you may access it from anywhere in the world.

The administrators of the OKX Russian-language Discord channel reportedly said that they do not advocate utilizing a VPN while visiting OKX as this would trigger the risk controls and may lead to a ban of the account.

OKX, which has its roots in China but is now headquartered in Seychelles, is not complying with Western sanctions on Russia.
Notable for its support of Manchester City soccer and motor racing, it allegedly ignored a request from South Korean authorities to block accounts belonging to Terraform Labs co-founder Do Kwon.

Russian courts have already overturned such bans on access to websites.
Between September 2020 and January 2021, Binance was unavailable in the Russian Federation due to a ban imposed by the Roskomnadzor. Although it remained on the agency’s blacklist, Russia eventually unblocked at least one of the six crypto news websites it had prohibited in 2020: Bits.media.

After being on the prohibited list for two years without effect, Roskomnadzor finally blacklisted Cointelegraph in early 2019.

The post Russia Bans Access to the OKX Website appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Moiseev said

“[The policy] generally describes how to acquire cryptocurrency, what can be done with it, and how it can or cannot be settled with it in the first place in cross-border settlements.”

Russian news agencies have been claiming that the country’s central bank has been discussing the idea of international cryptocurrency payments with officials from other governments. On the other hand, there are rumors that the Bank of Russia is against allowing cryptocurrency exchanges to legally do business and does not recognize cryptocurrencies as legitimate forms of currency.

On September 5, Moiseev stated that because individuals are establishing cryptocurrency wallets outside of the Russian Federation, it is essential to accomplish this in Russia with businesses that are regulated by the central bank and are required to comply with anti-money laundering and know your customer requirements.

Russian Crypto Background

Russia‘s relationship with crypto has always been tumultuous. In the year 2020, the government passed rules that restricted the use of cryptocurrencies such as Bitcoin (BTC) for making financial transactions. Additionally, in July, President Vladimir Putin put a legislation into law that prohibits the use of digital financial assets as a form of payment. In May, Russia’s Minister of Trade Denis Manturov said that the country would “sooner or later” permit cryptocurrency payments.

Since Russia began its invasion of Ukraine in February, the government, corporations, and some individuals residing inside the territory have been subjected to harsh economic restrictions. On September 15, the United States Treasury Department added 22 individuals and two firms located in Russia to its sanctions list. The department said that these individuals and businesses have assisted the government in achieving its goals in Ukraine.

The post Russian Authorities Approved Crypto for International Transactions appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

As this happens, the editors of the website portal have discovered that key reason for purpose to block the website was basically the decision of Volzhsky District Court. It confirms that the internet addresses consist of the details promoting the money laundering concept.

Verdicts for Cryptocurrency without representation

As per statement, the ruling of court was in response to the lawsuit. It was filed by prosecutor’s office with decision. Here, media outlet even confirms that website of court says that Alla Danilenko, the judge usually considers this case devoid of presence of block addresses of the owners. Here, block addresses not specifically named in document. However, the official Cryptocurrency ruling specifies that it consist “information that promotes crimes in money laundering.”

Ivan Tikhonov, Bits.media founder disputes the ruling and confirms that we basically interested party, but no one has notified for such proceedings. We also not given any such opportunity for removing the materials and the verdict disagreed strongly.

Tradition of blocking the news site of crypto by Russian Government!

This is not for the first time when government blocks Bits.media or other websites that crypto-related with similar kind of situation. Back now, the editors have also challenged the decision of court. Hereby winning case four months afterwards, which Roskomnadzor unblock this website. However, the website Bits.media is accessible in Russia through the VPN or through the proxies.

Russia has the quite complicated relationship with digital asset and Cryptocurrency. With requesting that Central Bank & government come to mutual agreement about expanding of the industry.

The post Cryptocurrency news site Blocked by Russian government appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.