52 ATMs in Russia, CryptoCurrencies are Legal?

There is no legal framework to regulate CryptoCurrencies in Russia, the country has 52 working Crypto ATMs. According to the data of ATM tracking website "CoinATMRadar," Moscow has the highest number of Bitcoin ATMs (9) followed by Omsk that has 5 Bitcoin ATMs.

CoinATMRadar, a Twitter user tweeted:

‏”Over 50 Bitcoin ATMs Operate Legally in Russia, Study Finds.”

Another Twitter user DagoBit commented:

“Oh..50? In whole Russia? This is mass adoption!! 😂”

These Crypto ATMs are in the working state and have all the features and cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH),

Monero, ZCash, Dogecoin and Dash. Users can trade fiat currency with cryptocurrencies.

ATMs can show the cryptocurrencies prices in different fiat currencies like Russian Rubble, US Dollar, Indian National Rupee [INR], etc., with more other fiat currencies.

Last year 20 ATMs are seized in Russia because there is no legal framework for legal crypto in the country.

Russian economist and member of State Duma, Anatoly Aksakov cited:

“The law on the regulatory sandbox, which I hope we’ll adopt during the spring [parliamentary] session, will allow either individual companies or a given industry to use crypto instruments in their economic turnover and business operations in certain regions.”

Long Bitcoin Short the Bankers