Crypto Exchange Okx Blocked by Russia’s Telecom Watchdog – Exchanges Bitcoin News

Russia’s media and communications regulator, Roskomnadzor, has restricted access to the website of a major cryptocurrency exchange, Okx. This trading platform is one of those that do not restrict access for Russians amid sanctions affecting industry business in Russia.

Okx was blacklisted at the request of the Russian Prosecutor’s Office for the dissemination of prohibited information

Russia’s Federal Supervisory Service for Communications, Information Technology and Mass Communications, also known as Roskomnadzor, this week added the domain of cryptocurrency exchange Okx to its list of sites containing information, the distribution of information is prohibited in the Russian Federation. This move follows the decision of the Office of the Prosecutor General of Russia.

The Seychelles-based company is one of the few leading cryptocurrency trading platforms that has not introduced restrictions on Russian users despite imposing Western sanctions over the invasion. Russian military entry into Ukraine, Russian business portal RBC noted in a report.

Russian prosecutors have asked the telecommunications watchdog to block access to its website for “disseminating unreliable socially significant financial information,” Roskomnadzor told RBC Crypto. The agency’s press service further states:

The site publishes information regarding the operation of financial pyramids, as well as information about the provision of financial services by those who are not entitled to provide them under the legislation of the Russian Federation.

Okx, which has a daily trading volume of about $1.5 billion and lists around 350 digital assets, was not immediately available for comment. However, Russian legal experts note that in the absence of a comprehensive regulatory framework, any exchange in Russia could be blocked. According to Daniil Gorkov, a lawyer at Criminal Defense Company, this will deal an irreparable blow to the country’s cryptocurrency market.

Roskomnadzor has a history of taking down crypto-related websites. In September 2020, the world’s largest cryptocurrency exchange, Binance, blocked in a period of time. Popular exchange aggregator has been blacklisted several times and crypto news outlets have targeted, also. In each of these cases, the following restrictions are lift up with prosecutors failure to convince the court.

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Do you think Russian authorities will restrict access to other major crypto exchanges? Let us know in the comments section below.

Lubomir Tassev

Lubomir Tassev is a tech-savvy Eastern European journalist who likes Hitchens’ quote: “Becoming a writer is in my nature, rather than what I do”. Besides cryptocurrency, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image credits: Shutterstock, Pixabay, Wiki Commons


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