To implement this plan, the authorities need to block transfers in a number of MCCs.
Russian regulators can block the transfer of Russians to crypto exchanges. Market participants share this opinion with Forbes.
- The publication’s interlocutor said that currently the Bank of Russia, according to their data, is considering several options for introducing restrictions related to Russian investments in cryptocurrencies.
- One way that regulators can use is to block transfers with an MCC code. This identifier helps determine which category of platforms accepts the translation. For example, the MCC of grocery stores is 5411. The code of crypto exchanges and crypto exchanges is 6051. Blocking certain MCCs by banks, according to Forbes interlocutors, will help regulators limit Russian investment in cryptocurrencies.
- Recall that in mid-December, information appeared on the network that the Bank of Russia plans to prohibit citizens of the Russian Federation from buying digital assets. This was preceded by a calculation by the regulator of the funds Russians spend on the purchase of cryptocurrencies.
- The negative attitude of the Bank of Russia to digital assets, in particular, was criticized by some representatives of the State Duma.
Recently, information appeared on the network that electricity tariffs were reformed in Russia because of miners.