According to recent reports, a new administrative unit, that buys and sells cryptocurrency for cash, has been inaugurated in Moscow, the Russian Capital. The legal bodies and firms have clearly stated that no rules stand against this kind of service and it is absolutely legal.
Buy Bitcoin for Cash in Moscow.
The Russian government is yet to impose regulations on Cryptos. They have been found adopting them already as the capital city welcomed a new bitcoin change. This exchange stands close to a prominent railroad station of Moscow, Kursky Vokzal. And as per media reports, this is one of the first bitcoin change units in Russia and the first in Moscow.
For the start, the exchange will be trading in Bitcoin only, in exchange of Rubles in Russian currency. The traders can transact the bitcoins with the help of their identity card. Since the service stands against no laws and is perfectly in tune with the Russian legalities, the officials are planning on opening two more outlets in different locations.
Cryptos are still not a legal tender in Russia. The Ministry of Finance has issued a draft to turn the Crypto related activities legal, such as Initial Coin Offerings and tokens. Another bill which focuses on regulating digital money to ensure absolute protection of the users, has been sponsored by parliament speaker Vyacheslav Volodin.
“In any democratic society, including Russia, if something isn’t banned, it should be legal…The federal legislation has no provisions prohibiting the use of bitcoin in financial transactions. The purchase and sale of bitcoin do not violate the Civil Code” a managing firm lawyer, Mr Vladimir Yurasov told BFM. If the services stand against no legal boundaries, these functionings are legal.
Whether this service will turn effective and gain popularity in Russia, will only be revealed by the coming months.