Cryptocurrency exchange platform BestChange has expressed uncertainty over why its website was blocked by Russia’s communications watchdog, Roskomnadzor. The platform is currently in contact with the central bank to understand the reason behind the block and work on lifting it.
BestChange confirmed that its website, bestchange.ru, had been restricted in Russia, but noted that it was unclear why the ban was imposed. “Unfortunately, we cannot account for the exact reason why this has happened,” the platform said in a statement late Monday. It further added that it was in communication with the central bank to identify the cause and engage with the regulator to resolve the issue.
Roskomnadzor’s official website listed BestChange as a blocked site, and Russian news agency RIA reported that the ban was linked to alleged violations in the financial sector. However, Roskomnadzor did not immediately respond to inquiries seeking more details.
The platform speculated that recent changes in Russian cryptocurrency regulations could be a factor in the restriction, or there could be issues involving an entity using its services. Last year, Russia legalized cryptocurrency mining and introduced taxation measures, expecting to generate up to 200 billion roubles ($2 billion) annually from miners. Although cryptocurrency mining was legalized, certain Siberian regions have faced restrictions to prevent power shortages. Furthermore, Russia has permitted businesses to use cryptocurrencies for international trade, an effort to circumvent Western sanctions that have caused delays in payments. However, a trial period for this new approach has not yet begun.
