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Russian Ministry of Finance to Legalize Cryptocurrency Trading on Approved Exchanges

https://cointelegraph.com/images/725_aHR0cHM6Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8yYmQwYzI3MTIyZTBkYjE2OGI3OGVhMmE4NWEyODk4ZC5qcGc=.jpg

The Russian Ministry of Finance has drafted a bill to legalize the trading of cryptocurrencies on approved exchanges, according to a report from local media. Deputy Finance Minister Alexei Moiseev has indicated that the government is seeking to provide greater oversight. He said:

    "This is about the fact that buying and selling [of cryptocurrencies] will be somehow standardized. The general idea is that it will be necessary to buy and sell on official exchanges, as it will be declared, it will be legalized.”

The news may come as a bit of a surprise, particularly given the recent rhetoric from other Russian officials in recent months. However, Moiseev has consistently maintained that Bitcoin would be legalized, though with restrictions.

The bill would allow for more open cryptocurrency trading and investment within Russia. Other countries have begun issuing statements either legalizing or banning cryptocurrencies.

The Ministry of Finance is still considering which exchanges would be approved. Moiseev indicated that the issue of exchanges is still “currently unresolved,” but the overall legalization is now “more or less clear.”

Many within the industry see the Russian addition of legalized cryptocurrencies as the first among many, as Blockchain and cryptocurrencies continue to remove boundaries between parties through trust networks. Carl Bennetts, co-founder of Status, told Cointelegraph:

    “Where traditionally we have relied upon central authorities and institutions in order to conduct trade, blockchains shift this trust, and enable us to move towards a society that does away with middle-men and enables truly peer-to-peer trade, commerce and law.”


Source: https://cointelegraph.com/news/russian-ministry-of-finance-to-legalize-cryptocurrency-trading-on-approved-exchanges

I really wander for when they will stop to look at other countries' experience, stop just talk and do something finally? There are so many plans, but no one realized yet. Many people wish to turn into crypto business, but the situation that there are no exactly laws in the country make almost all of them to scary to start something serious and high costed.

You never know with Russia. First you get news that Putin likes cryptos, meets with Vitalik, blah blah, then you get his ministers saying that cryptos are bad and will be regulated, then you get the news about Russia preparing to launch a centralized coin and now this...
So, what exactly is their stance? Negative or positive? Their policies are like castles made of sand. I guess it's about the money after all.
I've said multiple times that if one country bans cryptos another will embrace it just because it's an opportunity to make money. China wants to ban mining, Canada invites miners to move there. There were rumors about a ban in Korea, Russia is opening exchanges...

Periodically, we continue to receive conflicting information from Russia about the plans of the government of this country with respect to the crypto currency. And these information as a rule, diametrically opposite in their content. And no laws on the crypto currency are not accepted. It seems that the news from Russia is not worth reacting at all until the relevant normative acts are adopted there.

They seem like they're changing their minds every couple of days as to how to handle cryptocurrency acceptance and trading in Russia. I find this utmost supicious, it's like they want to hide something. That's why I also don't think this 'news' is very relevant.

I do not even know why the news channels still continue to waste time publishing news coming from Russia, right now I've seen other news coming from Russia

Pax Crypto: Russia Proposes First Multinational Cryptocurrency, Expert Blog (https://cointelegraph.com/news/pax-crypto-russia-proposes-first-multinational-cryptocurrency-expert-blog)

this becomes a joke because those countries that are members of this organization are campaigning against bitcoins and altcoins

Brazil Regulator Prohibits Funds from Investing in Cryptocurrencies (https://news.bitcoin.com/brazil-regulator-prohibits-funds-investing-cryptocurrencies/)

What do these countries want?

I am actually tired of hearing contradictory news coming from Russia though am truly hoping that soon they will recognize Bitcoin, allow its trading under a regulated environment and even provide the regulatory sandbox for those who are issuing ICO. I understand that there are now many intelligent and active Russians in cryptocurrency and they are getting benefits out of this so they really need the support coming from the government.

The next news I wanna hear or read is when Russia would already be welcoming applicants for cryptocurrency exchanges and issuance of ICOS and for now...I am just treating this news as a small step towards the big dream and that is the opening of the Russian market for cryptocurrency. The government should listen to those who are truly experts on the matter and not just those who are afraid of what they can lose (imaginary or real).

It is not about them changing their minds or having conflicting information the latest one right now is about a bill of legalizing exchanges with set standards. The problem here is it is still a bill and since the Russian legislation is so negative about cryptocurrency in the past there is a high chance that the bill will be drop. So if we hear news about Cryptocurrency being illegal in Russia we shouldn't be that surprise.

Possibly, but I think straight up banning it would be kind of stupid on their behalf. It would be a lot more beneficial for theme to pull trough with the 'Approved Exchange', those will practically be under their control anyway.