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Limitations on P2P Services in Russian Exchange

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On March 14, it was reported that the channel for Russian users to buy and sell dollars and euros through its P2P service was closed. In addition, the exchange

Limitations on P2P Services in Russian Exchange

On March 14, it was reported that the channel for Russian users to buy and sell dollars and euros through its P2P service was closed. In addition, the exchange prohibits EU citizens from trading rubles through P2P.

Coin closes the channel for Russian users to buy and sell dollars and euros through P2P services

Analysis based on this information:


The message above highlights the recent closure of a P2P service for Russian users in an exchange that catered to buying and selling dollars and euros. This news also reports a new prohibition on EU citizens from trading rubles through the same P2P service. This may be seen as a significant setback to Russian traders who heavily rely on foreign currency transactions.

This development may be attributed to the exchange’s attempts to comply with regulations mandated by the Central Bank of Russia. The state agency has been imposing tighter restrictions regarding the use of cryptocurrencies, foreign exchange transactions, and P2P services for financial activities. However, the message does not specifically mention whether this closure and prohibition were influenced by this.

The Russian exchange’s decision to discontinue the P2P service may be seen as a concern for traders who were fond of the platform’s convenience and privacy. P2P services are known to be decentralized, and users can transact without the intervention of intermediaries such as banks. This feature may have initially attracted traders to the exchange’s P2P service, knowing that it was anonymous and they could buy and sell foreign currencies without any restrictions.

The new order by the exchange banning EU citizens from trading in rubles through a P2P system may also lead to a reduction of liquidity on the exchange. EU citizens have been significant users of this service, and the absence of their participation may cause a scarce representation of their currencies in the exchange. This situation may affect the exchange’s attractiveness to international traders.

In conclusion, the closure of the P2P system for Russian users and the restriction of EU citizens from trading rubles through P2P services are noteworthy events that could affect the financial activities in the Russian exchange. It may provide fewer opportunities for privacy and convenience in foreign currency transactions and may lead to a lack of liquidity for some currencies in the platform.

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