First, the Russian financial regulators have forbidden foreign issuing and servicing of prepaid MasterCard for Russian citizens. Now services such as Payoneer, TransferWise, and other stops servicing of issued cards and will not issue new. Therefore, only two payment tools are still available for Russian citizens: direct bank transfers and PayPal. But both of them are assuming putting money in the jurisdiction of financial institutions located in Russia!

At the same time, PayPal requests additional information like birthplace, individual tax identification number, and passport top allow users to keep their funds in currencies that differ from Russian rubles. I don't sure what is it, but certainly, there's nothing good.

And on top of it, introducing the law on criminal punishment up to 7 years and a fine of 2 million Russian rubles for cryptocurrency/tokens acquisition and turnover!

And this is in a situation where people are locked in homes, everyone understands the prospects and try to keep money away from Russian banks, and Russia as the state in general.

#cryptocurrency #banking #russia #finance #mastercard #payments #PayPal