Banks will block accounts for transactions with crypto-exchangers

• The Bank of Russia has listed suspicious banking transactions.
• The regulator called on banks to showvigilance.
• After two warnings, the bank will be able to block the account.

The Central Bank of Russia believes that transactionsindividuals with cryptocurrency exchangers may be subject to illegal activities and called on credit institutions to classify such transactions as suspicious transactions. This is reported in the regulator’s methodological recommendations.

According to the Central Bank, bank transfers of the “c” typecards to card”, “from wallet to wallet”, “from a telecom operator subscriber’s account to a wallet or card” may imply activities with cryptocurrency exchangers.

In the manual, the regulator called for analyzing user data if:

• an unusually large number of counterparties (for example, more than 10 per day, more than 50 per month);
• an unusually large number of transactions for crediting and (or) writing off non-cash funds by individuals (for example, more than 30 transactions per day);
• significant volumes of write-off and (or) credit transactions (for example, more than RUB 100,000 per day, more than RUB 1 million per month);
• a short period of time (one minute or less) between the crediting of funds and the debiting;
• within 12 hours (or more) of one day, operations are carried out to credit and (or) write off money;
• during the week, the average account balance at the end of the day does not exceed 10% of the average daily volume of transactions on a bank account;
• operations to write off money in the absence of payments in favor of legal entities (for example, payment for utilities, communication services);
• coincidence of identification information about the device used by different clients-individuals.

The regulator does not explicitly call for blocking accountswhen trades with the above patterns are detected. However, the Central Bank recommended to be guided by the recommendations set out in letter No. 60-T (to refuse to carry out operations). If the bank identifies two cases of suspicious transactions, the Central Bank recommends to be guided by the right to terminate the bank account agreement.

Let us recall that at the beginning of the year the Bank of Russia clarifiedgrounds for blocking bank accounts. According to the amendments to regulation 375-P, financial institutions have the right to freeze or even block a bank account if there are signs of cryptocurrency trafficking.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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