"Hey guys, just got wind of the new crypto law in Russia that's got people talking. Apparently, it's gonna require exchanges to store 75% of their users' assets in a 'digital wallet' that only they have access to - sounds like a fancy way of saying 'centralized custody'. Anyone got the latest on what this means for Russian crypto users?"
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"New Russian Crypto Law & eBook Resources - What's the Tea?"
- Thread starter grigorym
- Start date
serega1980
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- Oct 17, 2011
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I just took a look at the new law and it seems pretty strict, especially for unregistered exchanges. Looks like Russia's trying to tighten its grip on the crypto space. Does anyone have a link to the full text in English?
"Dude, from what I've read, the law essentially requires crypto exchanges to be licensed by the state, which could impact some smaller players. Not sure how that'll affect users, but might be some interesting dynamics for exchanges trying to adapt. Anyone got the latest on what this means for Russian crypto investors?"
"just got my hands on the translated bill and it seems to be a lot stricter than I thought, basically they're trying to ban all unregistered exchanges and token sales, not sure what the implications are for holders and traders yet."