MOSCOW: The Russian government has scrapped plans for a regulated national cryptocurrency exchange as the government wants to regulate several crypto trading platforms.
In November 2022, the government began considering plans for a national cryptocurrency exchange, but Russian lawmakers have now abandoned the idea.
The Russian government will now regulate crypto trading platforms, allowing Russian investors to transact across borders, while also giving local crypto companies ways to avoid the ban. Earlier, the Better Business Bureau published a report which revealed that crypto scammers are using TikTok for fraud.
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The report stated that sometimes such kind of advertisements are run on the application which mentions that if you invest so much, you will get so much profit and innocent people get fooled by such scammers and invest their money.
