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Crypto becomes popular amidst the taxi services in Russia

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The Russian Government’s efforts to enforce stricter regulations on the Crypto sector is falling futile since cryptocurrency and its related services are on the rise in Russia. Rostov, a city in Russia, is witnessing immense crypto growth that includes taxi services accepting crypto payments and installing more BTC teller machines.

Cryptos popular amongst the taxi-services

Even though the Russian government wants to impose a firmer  framework for the Crypto sector, the taxi services in Rostov seems to be impatient to make use of the digital world. A picture had gone viral in the country that proves that the taxis in Russia are accepting BCH. The image shows a sticker on the car that reads “Принимаю оплату в Биткоин (КЭШ)”, meaning,  “Accepting payments in Bitcoin Cash”.

This shows that the taxi drivers have become essentially aware of the technologically advanced world and about the P2P systems. A report from a survey stated that more than 50% of Russian population are aware of Bitcoin. It seems like the taxi drivers form a distinct part of this percentage.

Bitcoin ATMs increasing in Supermarkets

Apart from cryptocurrency’s popularity in the taxi service community, Bitcoin teller services are doing pretty well in Russia. A minimum number of three Bitcoin ATMs are planted in Russian supermarket chain Assorti.  This ATM machines accept Fiat, rubles,and a few methods of e-payments. A flat 6% commission is charged on every purchase with receipts generated on paper and email accounts.

Regulation yet not approved

The Russian government is yet to approve regulations on the Crypto sector. Duma, a state in Russia, has approved two drafts of the bill on cryptocurrencies. It states about the legalization of Crypto actions such as mining and token sales and making improvisation on the country’s civil code for smoother crypto payments.

And when it’s time for FIFA world cup, 2018, the international guests would want to spend some Cryptos if they are given the option to. Accepting the Crypto payments seems like a pretty good business plan for Russia.

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