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Industry experts reveal a possible method for Bank of Russia to block crypto
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Amid the ongoing uncertainty about the future of cryptocurrencies in Russia, one local industry executive has disclosed a potential method for the Bank of Russia to block crypto transactions.
Andrey Mikhaylishin, CEO of the local crypto payment startup Joys, said that the Russian central bank is now considering several potential options to make its crypto ban possible, Forbes Russia reported Friday.
One of the possible restriction methods includes blocking debit card payments to crypto exchanges or wallets using merchant category codes (MCC), Mikhaylishin said. The report notes that the executive became aware of this blocking method from Bank of Russia employees.
MCC codes are four-digit numbers used by credit card processors like Visa or
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