Russian Government Bans Anonymous Wallet Deposits By Cointelegraph

Russian Government Bans Anonymous Wallet Deposits By Cointelegraph

Russian Government Bans Anonymous Wallet Deposits

The Russian Federation has banned anonymous deposits to online wallets in a move that will affect 10 million users across the country. According to lawmakers, this initiative is supposed to curb illegal activity, such as the financing of terrorism and the illegal drug trade.

Online wallets through services such as Yandex (NASDAQ:), WebMoney, PayPal, and are very popular in Russia. These services maintain approximately 10 million users who use the accounts anonymously by topping them up with cash. Some people use these anonymous wallets to purchase cryptocurrency, although the exact numbers are unknown.

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