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In Russia, the volumes of over-the-counter crypto-trading are increasing

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In Russia, there is a growing interest in over-the-counter investments in Bitcoin and crypto-currencies. The daily trading volume of MTC and ETS reaches $ 50 million. This is much less than the volume of the top exchanges, but given the regulatory uncertainty, the value is quite large.

Now in Russia it is not forbidden to invest in crypto-currencies. Virtual coins are considered property. While capital comes from a legitimate resource, until then, trade is technically legal for citizens and residents of the Russian Federation.

Yet in Russia, the crypto-market is developing slowly because of the lack of an appropriate legislative framework and policy. Invest legally – but it is unclear which companies are allowed to support crypto-trading platforms.

Earlier in 2018, the government created three bills on crypto operators and digital asset trading. But the approval of these documents is postponed until the end of 2018. While the government does not approve officially the crypto business, regulated exchanges will not appear on the market.

Local OTC-sites, whose liquidity is connected with global crypto-exchanges, take 1.5-2% from transactions as commissions. Every day they can generate a turnover of hundreds and thousands of dollars – that's a bit.

In China, the situation is slightly different – the country strictly prohibits crypto-trading. Nevertheless, citizens and residents can still buy and hold virtual coins. Activity in the Chinese market remains quite high, unlike the Russian Federation, even taking into account that the government is trying to remove or stop the activities of fintech platforms.

Financial authorities have done everything possible to make it difficult for investors to transfer from RMB to the CRO. Nevertheless, local residents can invest in digital assets, and on a large scale.

It is difficult for the state to completely ban bitcoin, because offshore markets come to the rescue. Analysts expect that in the coming years, the activity of investors in China, India and Russia will grow significantly – regardless of the state of public policy.

  • bitcoinBitcoin (BTC) $ 24,102.00
  • ethereumEthereum (ETH) $ 1,924.30
  • cardanoCardano (ADA) $ 0.537230
  • polkadotPolkadot (DOT) $ 9.35
  • litecoinLitecoin (LTC) $ 62.28
  • chainlinkChainlink (LINK) $ 9.19
  • stellarStellar (XLM) $ 0.125741
  • bitcoin-cashBitcoin Cash (BCH) $ 142.06