Recent changes in Russian cryptocurrency legislation have caused a strong reaction among users. The main fear is the transfer of data from international exchanges to Russian tax authorities. But how justified are these concerns?
Why international exchanges will not transfer data
Sanctions and reputational risks. Large platforms such as Binance and Kraken are more afraid of pressure from Western regulators than of Russia's demands. Cooperation with Russian authorities may lead to blocks from Western countries. Data protection. Most international exchanges operate under the jurisdiction of countries where privacy laws are strictly enforced. Without compelling legal grounds, they cannot transfer user data.
Local platforms are at risk
At the same time, Russian companies, such as ExHub. IO, are required to comply with new regulations. Users of such platforms may face increased scrutiny from tax authorities, but there is a positive aspect: users will always have the opportunity to exchange cryptocurrency without card blocks in unlimited volume. However, objectively, these plans may not be realized for at least another 5 years.
Questions for TON Wallet
In 2024, TON Wallet began requiring verification for wallet holders, which raised concerns among users. This contradicts the spirit of privacy that Telegram is built on and raises questions about possible cooperation with the state.
How to protect yourself?
Use decentralized wallets. Work through reliable services. Stay vigilant when choosing platforms for transactions. Privacy in cryptocurrency is still possible if approached wisely.
