Cryptocurrency trading in Russia under new rules, and possible solutions

In the coming months, and perhaps even days, a law regulating cryptocurrency circulation in the Russian Federation will be adopted.

This law is aimed at protecting the interests of ordinary citizens, as it requires licensing of exchanges that exchange cryptocurrencies.

In addition, it is expected that capital requirements will be introduced for organizations conducting the exchange; this money will be kept in bank accounts and used in the event of financial problems.

To reduce the risk of loss during speculative cryptocurrency trading, only individuals with relevant education and experience in margin trading will be allowed to participate.

Another key aspect will be the transparency of exchange transactions, eliminating any anonymity. Anyone dealing with cryptocurrency will be required to conduct transactions through a dedicated "wallet" opened at a bank.

You must also provide information about your cryptocurrency wallets, which means that all profits and incoming funds will be monitored.

So what should you do if you want to trade cryptocurrencies without the hassle?

At the moment, there is already a fairly simple and convenient way to bypass the restrictions that have not yet been adopted.

This can be done through international brokers that allow this. There are also companies that allow you to top up your account with Bitcoin and withdraw it in the desired currency to a card or electronic payment system.

Technically, the process looks like this:

• Registration – with a broker that provides the opportunity to trade cryptocurrencies. The list of brokers providing this opportunity is https://time-forex.com/kriptovaluty/brokery-kriptovalut

• Verification – confirmation of identity, but unlike a bank, a broker is not a tax agent and will not inform the tax authorities about your funds.

• Account replenishment – ​​as a rule, this can be done in a large number of ways, from bank cards to cryptocurrencies.

Afterwards, you can open unlimited cryptocurrency trades and earn profits that you can withdraw using your preferred method.

The best option for trading cryptocurrency at the moment, in my opinion, is RoboForex ( www.roboforex.org ) – where you can withdraw money in the following ways:

I would also like to highlight the following advantages of working with this broker: fast verification, instant withdrawals without commission twice a month, and high leverage on cryptocurrencies.

For example, to withdraw profits, you can use a payment system like WebMoney , and then transfer the money from your WebMoney wallet to a card or cash it out through special services.

It can be concluded that the new cryptocurrency trading rules in Russia won't pose a major obstacle for those looking to profit from the cryptocurrency market. The key is to organize the trading system properly.