Association of Banks of Russia asking to give them keys of crypto wallets !

It's one of the craziest news I have even seen about cryptocurrencies.

You can check it here : Russian Banks Want to Ban Self-Custody Crypto Wallets. But since I know Russian and I live in Russia, I wanted to be sure about the news and I found it in Russian : Уголовное наказание за хранение криптовалют вне бирж and Россиян могут заставить отдать ключи от «крипты». The first is about illegality of not holding crypto in exchanges, they mean centralized one of course, and the second is about that Russians may have to give the keys of their wallets. That proves that staying in Russia for a crypto holder maybe dangerous. About taxes, they may ask to give them 30% like it was in India, or even more, who knows. That's how they are fighting the decentralization now. And I think more countries will do the same. It's just a matter of time.

They seem to understand that people don't trust centralized exchanges anymore, and most crypto holders start using the original wallets of crypto. I think this will push more people to withdraw their money from the exchanges. And the market may change a lot. Because I don't think that the market shows us all crypto held by people. It's for sure more than 2 trillions dollars. Automatically the volume is much higher and the price of each crypto now is not real. I guess that the price of bitcoin is already now $100k or more. Because the value of crypto on original wallets is for sure much higher. For example there are some private blockchains, where it's impossible to know how much is held. That's why I think so. Not all crypto are public like bitcoin. There is also a lot of money in NFTs, and DeFi. That's maybe not counted on the market as well. I don't know, those are just my assumptions.

So, knowing what most of the governments did during the time, I wouldn't be surprised is such laws will be accepted, where people will have to give their keys. In this case we will see maybe other ways to hold crypto. I don't think developers will let that to happen.

Anyway, we also say that : ''Your keys, your crypto.'' We may have in the future so say something else. Crazy time we are living in.

Asking for keys of crypto, is like asking for keys of houses or cars !