The exchange is run by a group well-known as BTC24pro.com on LocalBitcoins and it is a physical office that allows customers to convert bitcoin into Russian Rubbles but does not allow the purchase of bitcoin itself.
The legality of the exchange is another matter, with the Russian Government having a long track record of wanting to ban trade in cryptocurrencies; reports in the Russian suggest that the owners of the exchange are planning to register its operation with the Russian Government to avoid claims by law enforcement agencies, but it’s not entirely clear if they will be able to do so.
Russia’s tax agency is now encouraging its citizens to report the purchase or sale of digital currencies as currency transactions so as to track any tax liabilities on those transactions. On one hand the Russian Government says it wants to ban bitcoin trading whereas its tax office has defined them as currency transactions, all but essentially saying it is a legal activity.
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