BTC-e Stops Russian Ruble Deposits and Withdrawals
Bulgaria-based BTC-e today announced the indefinite halting of both deposits and withdrawals of the Russian ruble via the QIWI system and other methods. The news comes following an uncertain climate in Russia with regard to cryptocurrencies, in which it has previously been said that the use of bitcoin may violate some laws. Other unconfirmed reports circulating suggest the country has banned the digital currency entirely. Meanwhile, it doesn't seem as if other currencies are affected. A Reddit.com user going by the name of "the_cliffhanger" provided an English human translation of BTC-e's....
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Huobi partnered with fiat and crypto payment processor AdvCash to unlock deposits and withdrawals in the Russian ruble. Major global cryptocurrency exchange Huobi is introducing Russia’s national fiat currency on its trading platform.According to a Jan. 12 announcement, Huobi Global now supports deposits and withdrawals in the Russian ruble. The new feature enables users to purchase and sell major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Tether (USDT), and Litecoin (LTC) for rubles. Other supported coins include EOS, Bitcoin Cash (BCH), Ethereum Classic (ETC), Bitcoin SV (BSV),....
Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.” American economists have been perplexed about the ruble’s market performance and Russian officials have been quoted as saying that a strong ruble “makes Russian exports more expensive.” Furthermore, U.S. president Joe Biden continues to blame high gas prices on Vladimir Putin.
Vladimir Putin Says the West’s Sanctions Obviously ‘Did Not Succeed’....
If BTC-e's move this morning to officially halt Ruble deposits and withdrawals was any hint, it now seems a sure thing that the Russian Central Bank is quite simply saying no to bitcoin and other digital currencies. "The monitoring of the use of virtual currencies shows an increasing interest in them, including for the purpose of money laundering, profit obtained through illegal means," the Prosecutor General's Office said following a meeting with the central bank of Russia. "Russia's official currency is the ruble. The introduction of other types of currencies and the issue of money....
Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best-performing currency worldwide and the articles explained that American economists were perplexed by the trend. On Monday, the Russian ruble rose to 55.47 per dollar, which was the highest increase since 2015. While many have dismissed the ruble’s exchange rate, Charles Lichfield, the Atlantic Council’s Geoeconomics Center deputy director, published an editorial called: “Don’t ignore the exchange rate: How a strong ruble can shield Russia.”
Russia’s....
Russian banks and financial brokers are worried the digital ruble will be a burden for them.