AdvCash and Russian sactions?

[wellington]

How badly will AdvCash be hit by the Russian sactions? I didn't see any discussion about it as of yet.

They are located in Russia and for that reason they may not be able to conduct their business as usual or how are they dealing with it?

Maybe @ADV can help calrify?

Owner is Russian, Company is BVI, and he lives in Miami?

 

[Martin Everson]

Owner is Russian, Company is BVI, and he lives in Miami?

Really?

Two languages on site English and Russian .

Good luck folk with that one.

 

[wellington]

Really?

Two languages on site English and Russian .

Good luck folk with that one.

Bound to get indicted sooner or later lol.

 

[Simon4466]

Just looked into the companies house again, found something which might be interesting (and which I really would like to have some information on).
The old Advanced Cash LTD company info page is here: ADVANCED CASH LTD overview - Find and update company information - GOV.UK
However, Monese Services Ltd (MONESE SERVICE LTD overview - Find and update company information - GOV.UK) apparently traded as Advanced Cash Limited (from 30 Jun 2015 - 23 Sep 2016). The current Monese Services Ltd is now listed to be struck off according to the companies house.

Could this mean that Monese and AdvCash are linked in any way, shape, or form? If so, it may be a good idea to classify Monese as higher risk...

 

[wellington]

On the bright side they are not worldly recognized as a brand… but niche/small, downside Binance and co heavily use them and there’s a lot of drama about crypto being used to circumnavigate sanctions, so it’s bound to be picked up sooner or later, also note they haven’t been active in here, which they used to be…

 

[Simon4466]

Good point. By the way, does anyone know how a company like ADVCash can still process both USD/EUR as well as RUB creditcard payments? Or has their website not been updated?

 

[Martin Everson]

Or has their website not been updated?

Or have they been detained already . They must be pooping bricks right now at whole situation.

 

[avalanche]

revolut staff is in russia ? I doubt

they are russians who relocated to europe

 

[icecold]

up sooner or later, also note they haven’t been active in here, which they used to be…

I noticed that, usually they are in front of every comment about AdvCash, not they dive under on radio silence.

 

[wellington]

They apparently responded to a Reuters article reference Binance and use of rubles and their owner etc

 

[MaxFS]

Hi, Russia considers Advcash as a foreign EMI. It's in the official list of foreign e-wallets of the Russian Tax Service:
Here is the link: https://data.nalog.ru/html/sites/www.new.nalog.ru/docs/inttax/list_e-wallet.pdf
In the Russian segment of the internet, I have not found any information connected to sanctions and etc. The last mention was from October 27, 2021, it was about obligations of Russian citizens to notify tax service if you receive payment to a foreign e-wallet of more than 600K rubles.

 

[lory]

So they are not Russian, AdvCash I mean ?

 

[wellington]

So they are not Russian, AdvCash I mean ?

Russian owner living in miami
Corp in BVI and licensed and operated via another Belize corp

Even if it’s not sanctioned EU/UK/US citizens may be violating their respective sanction laws by dealing with.

 

[JackAlabama]

https://wallet.advcash.com/login

seems to be down now. How is the status of it? @ADV

 

[Simon4466]

It loads for me, seems to have been updated (new design)

 

[JackAlabama]

It loads for me, seems to have been updated (new design)

true, now works also for me again.

 

[bastard]

So far I have not seen any downtime of this service, are there any?

 

[JackAlabama]

So far I have not seen any downtime of this service, are there any?

very seldom. it is overall very good also support.

 

[ImKing]

have nothing to complain about AdvCash so far.

 

[John Spectre]

Advcash priorities to ex ussr markets and due to the sanctions they already lost number of gateways for transactions.
It have big probability that at some time they will stay with useless funding options that literally stops their business.
But it not first time in their history and they could spend years to open another gateways without shutting down business.