Russia leads in trading volumes at LocalBitcoins

For the second month in a row, Russia remains the most active country in the MTC trade on the p2p LocalBitcoins platform.

Onlast week the government of the Russian Federation consideredthe issue of banning the distribution and sale of crypto assets, and on the official website of the State Duma of Russia a new version of the draft law “On Digital Financial Assets” was published, as well as a number of additional documents regulating cryptocurrency transactions.

According to the amended version of the law,Distribution, mining, purchase and sale of cryptocurrencies in Russia may be prohibited. According to CryptoDiffer, due to this regulatory uncertainty, the volume of MTC trade in Russia at LocalBitcoins was higher than in any other country.

Russian traders are almost twice as largetrade than Venezuelans and Americans. According to Coin Dance, the volume of Russian weekly BTC trading on LocalBitcoins in May amounted to about 800 BTC on average, while the US and Venezuelan volumes were only 400 BTC.

LocalBitcoins spokesperson confirms thatlast month, Russian trading accounted for 17.9% of the total trading volume of the platform. The total trading volume at LocalBitcoins in May amounted to 17,867 BTC, which is almost half that over the same period last year. Despite the decline in volume since the beginning of this year, LocalBitcoins continues to strengthen the Russian market by opening a Russian-language blog a month ago.

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