Russia Tightens Cash Controls, Posing Hurdles for Crypto Traders
17h05 ▪
4
min read ▪ by
Russia has introduced a new rule requiring banks to monitor ATM withdrawals for potential fraud. Effective September 1, if a transaction appears suspicious, banks must immediately alert the customer and limit cash withdrawals to ₽50,000 per day for 48 hours. While the measure is seen as a step toward reducing fraud, experts warn it could affect crypto trading, particularly for small exchanges and peer-to-peer platforms that depend on cash transactions.
In brief
- Russia limits ATM withdrawals to…
