BitRiver, the most important cryptocurrency mining colocation offerings issuer in Russia, is not going to be tormented by a brand new crypto crackdown from the Bank of Russia, consistent with the company’s CEO.

On Sept. 15, the Russian vital financial institution introduced that the authority has began out running with nearby banks to be able to gradual down bills to cryptocurrency exchanges.

Sergey Shvetsov, the primary deputy governor on the Bank of Russia, reportedly stated that the regulator is now thinking about amending the regulation to “extra truly restrict using cryptocurrency” and introduce extra administrative and crook liabilities.

While Shvetsov did now no longer make clear on what form of crypto transactions precisely could be confined as a part of the brand new regulatory crackdown, the respectable stated that the financial institution desires to halt bills to crypto exchanges to be able to guard clients from “emotional” purchases of crypto.

BitRiver founder and CEO Igor Runets informed Cointelegraph that new regulations deliberate with the aid of using Russia’s vital financial institution will not going have an effect on any of its customers because the company does now no longer function a crypto mining facility however as a substitute gives statistics facilities for overseas companies.

“We do not ship crypto to exchanges, we’ve none of our personal system and this financial institution’s flow will now no longer have an effect on our customers due to the fact they function in overseas jurisdictions,” Runets stated.

According to Runets, BitRiver has been lengthy waiting for difficult crypto rules from the Russian government, recommending its Russian customers to apply BitRiver’s crypto statistics facilities with the aid of using putting in a overseas organisation. “Now we haven’t any problem,” Runets stated.

“From time to time we pay attention that customers need to make a organisation in Russia in order that it’s miles extra handy to supply system from abroad. But even for them, the Bank of Russia doesn’t without a doubt bother, for the reason that cryptocurrency doesn’t input the account of a Russian organisation,” he added.

Related: Russian Duma desires to alter crypto mining as business

The Bank of Russia’s new anti-crypto measures come months after the u . s . a . followed its essential crypto regulation, “On Digital Financial Assets” in January.

According to Nikita Soshnikov, a former senior attorney at Deloitte CIS, the crackdown with the aid of using the vital financial institution is a part of a flow to juxtapose non-public cryptocurrencies with the virtual ruble, the u . s . a .’s vital financial institution virtual currency (CBDC) project. On Monday, the Bank of Russia formally showed plans to release a CBDC earlier than 2030 as one of the u . s . a .’s key digitization projects.

“I anticipate new respectable files and legislative proposals where ‘allowed’ operations with a virtual ruble can be hostile to ‘illegal’ crypto transactions,” Soshnikov stated.