Bitcoin Forum

With U.S actions showing them leaning to fight the crypto market instead of adapting to it, could we see Russia excel because they are showing the other direction to adopt it? As a lot of us believe, the technology behind cryptocurrency is disruptive and may replace the current centralized system we see today. The countries that utilize it faster could in fact prosper greatly. Let me know your thoughts! PS: fill free to check out my project: https://ico.crowdholding.com/

I think developing countries might actually be ahead of the western ones in this regard. Especially China and Russia since crypto already has a decent foothold there.

Bitcoin is not legal in both Russia and China. A lot of Bitcoin-related businesses were forced to relocate from Russia, due to the negative attitude of the Russian government. They even blocked the BTC-e website a few months back. And the situation is no different in China. A number of exchanges relocated to Hong Kong, due to government persecution.

Russia has banned even several sites for the exchange of bitcoins and has not yet intends to introduce crypto currency, because it does not consider it a full currency. It is too early to say that one of them is trying to develop a crypto-market.

There are things to consider before completely legalize bitcoin and that's what Russia was thinking few months back. This time, I saw and read some blogs within this month, it seems that they now have positive discussions about recognizing cryptocurrencies, mining, and also ICOs. I included references below which I think are good reads.

*  Russia's Central Depository Plans to Build Its Own Cryptocurrency Wallet (https://www.coindesk.com/russias-central-depository-plans-build-cryptocurrency-wallet/)
* Russia discusses starting cryptocurrency mining (https://news.bitcoin.com/russia-discusses-starting-cryptocurrency-mining-with-its-20-gigawatt-surplus/)
* Russia is currently working on a regulatory framework to legalize Initial Coin Offerings (ICOs) (https://news.bitcoin.com/russia-legalize-icos/)

It will be tricky to compare these two countries, U.S goverment is more tend to be open to make regulation about crypto market, however imo in the other hands Russian government is considerably less open to the new ideas such as crypto currency.

It seems that neither Russia nor US will be among the first countries to implement crypto market. The first one might be Japan, China and the countries of South-East Asia

I hear they're working at introducing crypto market regulations both in Russian and the US. The thing is that they might be taking long to establish this market on legal basis, but since it's set, they might be going ahead of south eastern asia and japan. proly not china thou

i don't know about specific countries, but america's financial laws are so onerous they must be holding back progress. the first place that really opens up will attract far more business. switzerland is looking like the most likely candidate. the eu is too uptight. i don't believe anyone wants to do business in russia if they can avoid it.

Oh, really BTC is banned in China and Russia?
Wow, sounds weird for me, why wouldn't they ban those huge chinese mining pools then?
Same thing for Russia - why Putin's aide is seeking for $100 million donation to rival China in BTC mining?

Sooo weird ???

The banks hate crypto, because they lose control and earnings with it. In addition, crypto will bring fiat down sooner or later. Whoever adopts crypto first, officially, will have the advantage of getting in before the bank crash. Nobody will do this, because they use the banks to control the people. They will wait until the last minute... after the crash.

8)

It's not likely that Russia is going to win in this "battle" coz actually there are no big and innovative projects. Most news about goverment actions are nearly fabricated to create the image of "innovations"...

The statistics may vary anytime however as of now i can still consider that us is far ahead from russia when it comes to crypto. In terms of stocks exchange we can obviously  see whos the winner

I think the USA is still further ahead than Russia. However, both are way further behind compared to countries like Japan (as was previously stated in the thread).

I wouldn't say so, I believe Putin recently meet with Vitalik and it seemed to work pretty well, we could see good things coming out of this. Nationality definitely helped in that case. As for the US, with all the regulations in place, the SEC and the trouble citizens have to legally get into ICOs it will be a much harder battle to win.

As long as the US continues to reject crypto currencies such as bitcoin and continues to defend their centralized currency then i think russia will have the upper hand in terms in economic resources and will gain more profit but ive heard that russia is planning to start their own crypto currency which i dont know if good or bad. Well, as far as i know the community hates centralized currency so it's really up to the community while the US with their centralized currency will get crash by bitcoin if they dont change their ways with their debt based system. 

Both the government doesn't seem to favor cryptos much. But, in generally Russians are deeply into digital world and thus in crypto mining/trading.
USA have large technological firms, but people there are still stuck with things like color and race.

It's more like a de facto ban, rather than a de jure ban. As per the criminal code, BTC is not a banned article. But the authorities will create trouble if you plan to do something with the Bitcoins.