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Reports state that the Russian government blacklisted OKX ‘s IP address on October 5 because the exchange allegedly engaged in illegal activities related to the violation of Article 15.3 of the information law of the country. Russia.
Roskomnadzor noted that the information included details of the “providing financial services by unauthorized persons” under federal law. Article 15.3 combats the dissemination of misinformation, threats to financial institutions and extremist practices.
What’s going on?
Even the owners of blocked websites, according to Artem Kozlyuk, founder of Roskomsvoboda, often do not know why they are banned and the only way to find out is to file a complaint with Roskomnadzor.
Roskomsvoboda is a non-governmental organization (NGO) that advocates transparent self-regulatory structures and protects digital rights for Internet users in Russia.
Roskomsvoboda is an imitation of the Russian censorship Roskomnadzor, where “nadzor” (meaning “surveillance”) has been replaced by “svoboda” (“freedom”).
OKX, founded in China, is not subject to Western sanctions against Russia. OKX is famous for supporting Manchester City football and racing.
OKX may file lawsuit against Russian regulator
The third-largest cryptocurrency exchange by trading volume, OKX is said to have ignored a petition from South Korean regulators to suspend accounts related to Do Kwon, a co-founder of South Korea. Founder of Terraform Labs.
OKX is not the first crypto exchange to be shut down by Russia. In June of last year, a Russian court ordered the suspension of Binance ‘s website on the grounds that the issuance and use of bitcoin is completely decentralized.
Similar to Binance’s IP block, OKX can file a lawsuit against the Russian internet censorship agency to find out the exact cause of the ban and possibly lift the ban.
Russia’s stance on Bitcoin – Ban or Not
The Russian government continues to examine and evaluate its policies on rapidly emerging crypto assets as other countries continue to adopt Bitcoin .
However, Russia has made significant moves regarding cryptocurrencies, as the government has just allowed the use of cryptocurrencies for international transactions.
So far, the Central Bank of Russia has been persistently opposed to cryptocurrencies, but Ivan Chebeskov, Head of the Financial Policy Department of the Russian Ministry of Finance, stated that the ministry has a more progressive stance on cryptocurrencies.
The CBR and the Ministry of Finance announced in September that they had reached an agreement for cross-border payments in Bitcoin and other cryptocurrencies.
Source: bitcoinist.com
>>> Related: The most complete and detailed OKX registration guide
