As my readers know, I am a citizen and a resident of Russia. My main stock exchange has always been Bittrex (in many respects because I entered the world of crypto-currency through a token "GOLOS", that trades with good liquidity only on this exchange). Yesterday I received such a letter:
It is clear from the above that the exchange is not very happy with these changes, and is forced to comply with the laws of the United States. I went into the study of given link: https://support.bittrex.com/hc/en-us/articles/360000560871 .
First of all, of course, I was interested in paragraph 2.2:
After an active search, I found that at the moment the US has an embargo with the following countries: CRIMEA - REGION OF UKRAINE, CUBA, IRAN, NORTH KOREA, SUDAN, and SYRIA. Well, so far the Russians, except living in the Crimea, nothing is threatened. BUT! You know that relations between the United States and Russia are far from good, and are constantly deteriorating. So at any time an embargo can be imposed, and then the question is, will I have time to withdraw funds? It certainly makes sense to be reinsured, and at least to reduce substantially the trading volume on Bittrex. What do you think about it?
Another important point is taxes. Here personally for me it would be good that the exchange does not cooperate with the authorities of my country and did not pass on to them information about the transactions. Here, as far as I understand from paragraph 8.5, Bittrex transfers everything to the user's hands:
It's good! It's funny that the worse the relationship between the US and Russia, the less likely that the Russian authorities will receive some information from American exchanges. Not that I want to evade taxes, but so far we do not even have a law on crypto-currencies.
I did not find anything more disturbing in the new rules. In the end, I decided to withdraw some of the crypts from Bittrex, but I will not even stop trading - we are all waiting for spring growth)))