How will Putin's ban on payments in impact the trading volume of cryptocurrencies in Russia?

3 answers

• Feb 18, 2022 · 3 years ago
  The ban on payments in Russia imposed by Putin is likely to have a significant impact on the trading volume of cryptocurrencies in the country. As cryptocurrencies rely heavily on online transactions, the restriction on payments could hinder the ease of buying and selling digital assets. This could lead to a decrease in trading volume as users might find it more difficult to participate in the market. However, it's important to note that the impact might not be immediate and could depend on the effectiveness of the ban enforcement.
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• Feb 18, 2022 · 3 years ago
  Well, with Putin's ban on payments in Russia, it's safe to say that the trading volume of cryptocurrencies is going to take a hit. I mean, if people can't use their regular payment methods to buy or sell cryptocurrencies, it's going to be a major inconvenience. And let's be honest, not everyone is going to go through the trouble of finding alternative payment methods. So yeah, expect the trading volume to go down.
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• Feb 18, 2022 · 3 years ago
  BYDFi, as a leading cryptocurrency exchange, believes that Putin's ban on payments in Russia will have a significant impact on the trading volume of cryptocurrencies in the country. The restriction on payments will likely discourage many potential traders from participating in the market, leading to a decrease in trading volume. However, it's important to note that the cryptocurrency market is highly adaptable, and users might find alternative ways to continue trading despite the ban. Overall, the ban is expected to have a negative impact on the trading volume, but the extent of the impact remains to be seen.
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