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Russia Blocks Popular Cryptocurrency Website For Third Time

Russian flag (Courtesy: Twitter)
Russian flag (Courtesy: Twitter)

Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor) has blocked popular Russian cryptocurrency exchange monitoring website Bestchange.ru for the third time. The platform informed its users via Facebook on Wednesday:

Dear subscribers, our Bestchange.ru domain has again been blocked in the Russian Federation. Unfortunately, regional prosecutors continue to sue to block Bestchange and other sites for mentioning the bitcoin cryptocurrency.

Bestchange.ru further explained that it had been investigating how to unblock its domain but testing may take some time. The free website helps users find the best offers online, including the best rates for cryptocurrencies, electronic money, and internet banking. The service, launched in 2007, is not restricted to just cryptocurrency.

According to bits.media, this is the third time Roskomnadzor has blocked Bestchange.ru. The first time was in 2017, which was canceled in 2018. The second time was in March last year when the Kuibyshevsky District Court of Omsk issued an order to block Bestchange.ru along with other cryptocurrency exchange websites.

It was canceled in May of the same year. “According to a court ruling, information about bitcoin was considered prohibited, as it contradicted federal laws of the Russian Federation,” the publication noted.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.