Andrey Tugarin Evaluates Russian P2P and Crypto Exchange Future – Bits Media
Andrey Tugarin, the founder of the GMT Legal legal practice, clarified that the Russian P2P and online exchange marketplace has been entirely contorted, and users will move to other countries.
As per Tugarin, Russian clients are compelled to utilize the P2P system, which entails moving funds from one client to another. However, the trading via money mules has long been an element of this system, which now carries criminal punishments. This has brought about a growth in the quantity of freezes applied to P2P exchanges, rendering this sector unprofitable.
Compliant market players are being substituted with swindlers, who are being encountered more and more often by users on the majority of P2P platforms and online exchange services, where there is merely an interface that necessitates filing a request by providing a telephone number and payment card details, the legal expert remarked.
“The instant you give up your telephone number and payment card details, you no longer possess them, and nobody is indebted to you. And they can wind up anywhere, in any stream of funds. That's the reason for the abundance of freezes in P2P exchanges,” Tugarin elucidated.
Web-based exchange platforms frequently display positive reviews, but there are no mentions of the legal entities accountable for their operations.
“It is nonexistent and cannot exist,” Tugarin pointed out, explaining that there is nothing “under the surface” of such services other than a website user interface where you can submit a request and supposedly observe it being processed.
According to the lawyer, novel solutions will surface on the market, and users will broaden their collaborations with exchanges in Belarus and Kyrgyzstan. They possess a transparent status, accept Russian rubles, and accept Mir payment cards.
“I foresee a positive prospect here, and P2P as a method for cryptocurrency ingress and egress will soon cease to exist. Yes, the conditions might not be exceedingly pleasant, but what alternative is there? You assuredly won't receive the freezes that you can receive on a P2P platform,” Tugarin underscored.
In accordance with him, the prevailing Russian banking reality is that any transaction involving cryptocurrency is regarded as dubious. Consequently, clients must be capable of detailing the entire process, from purchase to disposal, and ideally furnishing documentation if the bank poses questions regarding the source of the capital.
Prior to this, Dmitry Kirillov, a legal professional and advisor for Lidings, declared that legal restrictions force Russian individuals seeking to acquire an automobile with cryptocurrency to resort to intermediaries. Nonetheless, such transactions are perilous: cryptocurrencies can be pilfered, and the vehicle may not be delivered.
Источник: bits.media
