The lack of clear regulation is a key reason for the pressure on the crypto business in Russia, according to Sergey Mendeleev, CEO of Exved, during the “Podcast Society” on ForkLog’s YouTube channel.<\/p>\n
\n“Raids on exchanges often result from clients’ issues. However, law enforcement does not always distinguish between legitimate business and fraud. I myself was once forced to the ground, even though we operated strictly within the legal framework,” he noted.<\/p>\n<\/blockquote>\n
The expert emphasized that the freezing of Garantex’s USDT accounts<\/a> set a precedent:<\/p>\n
\n“Previously, Tether froze accounts only for terrorists or drug dealers. Now, anyone on the sanctions list is at risk. There are workarounds, but discussing them would lead to their closure.” <\/p>\n<\/blockquote>\n
He paid special attention to the crypto-ruble<\/a>, a tool designed to simplify cross-border payments:<\/p>\n
\n“This is not about circumventing sanctions, but a tool for business. Millions can be transferred from Vladivostok to Moscow in seconds, bypassing banks and their questions under Federal Law 115-FZ<\/a>.” <\/p>\n<\/blockquote>\n
In conclusion, Mendeleev expressed confidence that central bank bans will not halt the industry:<\/p>\n
\n“Crypto does not threaten the ruble. On the contrary, it helps businesses survive. But regulators believe myths\u2014that bitcoins are used to buy drugs. I personally showed an official that payments on ‘Hydra’ are made through Qiwi, but it changed nothing.” <\/p>\n<\/blockquote>\n