Bitcoin Forum

In April, CCN reported that Russia could recognize and regulate bitcoin and other cryptocurrencies in 2018, according to the words of Deputy Finance Minister Alexei Moiseev who spoke about the subject. At the time, this market a U-turn from the official who had in the past proposed to imprison bitcoiners in the country.

Only a few days later, Bank of Russia’s Fintech chief Maxim Grigoriev squashed such expectations, stating that the status of cryptocurrencies in Russia was still under discussion at the time, and that speculating results was premature.

On June 1, CCN reported that the head of the Bank of Russia, Elvira Nabiullina, stated that bitcoin would not be considered a currency in the country and that it would be regulated as a ‘digital asset’. At the time, she stated the bank didn’t see huge benefits in introducing cryptocurrencies into the Russian economy, but instead saw doubts and “risks” associated with digital currencies.

Now, according to RT, formerly known as Russia Today, State Duma – the lower house of the Russian legislature – committee member Vadim Dngin says a parliamentary hearing on the legalization of cryptocurrencies, particularly bitcoin, may soon start in the country. He added that bitcoin will “most likely become accepted throughout the world”.

https://www.cryptocoinsnews.com/109564-2/

if Russia adopts the price will skyrocket
not sure if Russia will be a trendsetter in terms of legalisation,just behind Japan,think there are
many other countries that would do it faster-India,for example
but the trend is obvious-more and more countries will legalise bitcoins very soon

That's for sure. I always thought Russia to be a bit like China, very cautious and reserved when it comes to new laws and changes in the monetary system.
It seems that times are changing and Russia is becoming more innovative than the EU. While the EU is looking for ways to lose money on supporting migration and fighting terrorism, Russia has closed its borders and is focusing on businesses and arms. Great choice.

It will definitely help contributing towards more growth, but everything Bitcoin related coming from Russia hasn't really been something that you could add a lot value to. One day they seem to be very open and understanding, while the other day they completely switch their attitude. I only believe it once the legalization has become reality, and as long as that isn't the case yet, it's just empty talk for me.

This is not just an empty conversation for you. I, too, do not believe that in the near future there will be positive changes in the field of cryptocurrency in Russia. The country is not ready for this. I am sure that in the next 3-5 years this issue will remain unresolved

how does a country have to be "ready" for a simple legislation act that just ads regulatory rules
as to regards of accepting and trading bitcoins? this will be aimed more at the exchnages,banks,financial institutions
rather than at "country" aka people and what is so different between Russia that is "not ready" and India that
considers legalising bitcoins too?

How about a double-whammy.

Russia legalizes, and then its partner China - does the same.

They already trade with each other with the explicit intent of bypassing the US Dollar. They settle energy trades in Roubles/Yuan. This would put a huge stake in the heart of USD being a global reserve currency.

I can hardly wait.

I agree with that. Basically every country can legalize Bitcoin if they so wish -- the main point of importance is whether or not they are willing to do so. In regards to Russia, I have my doubts, which is exactly why I first have to see it become reality in order to believe it. Don't forget that Bitcoin and basically any other crypto can be used to store money outside the centralized system. That's not exactly something a country as Russia or China will swallow so easily.

yep,I know how it goes in Russia and not only Russia
just have a look at India-a week ago they were discussing ways to legalise bitcoin
now "India’s Finance Minister Arun Jaitley held a private inter-ministerial meeting to discuss risks and concerns related to bitcoin regulation"
so it is risks and concerns,nowhere near the actual legalisation
think every country will be beating about the bushes for quite some time and we will be seeing more news:
"Russia almost legalised" or "India is about to set up a meeting to discuss the road map to a govermental commetee assembly to define the risks of bitcoin legalisation"
and things like that,sadly not many countries followed Nike's motto and Just do it! = legalise as Japan had done it