Russian Federal Service for Supervision in the Sphere of Information Technology blocked the OKX cryptocurrency exchange

The Russian regulator began actively blocking exchanges in an attempt to cover decentralized and unregulated ways to transfer money.

Okx is blacklisted at the request of the Russian prosecutor's office for distributing banned information. However, it did not say what information they were talking about. In addition, it is not completely clear why the exchange is blocked by the agency that is aimed at the media. Well, it's more of a legal convention.

The company based in Seychelles is one of the few leading coin trading platforms which did not impose restrictions for Russian users.

If looking for a reason, we can turn to a press release from the agency. "The site published information related to the activities of financial pyramids, as well as information about the provision of financial services by persons who are not entitled to provide them in accordance with the legislation of the Russian Federation."

Okx, which has a daily trading volume of about $1.5 billion and approximately 350 digital assets, has yet to comment. Russian legal experts noted, however, that in the absence of a comprehensive legal framework, any exchange could be blocked in Russia.