Bitcoin Forum

In yesterday's news over the radio I've heard that bitcoin maybe announced illegal in Russia because of the negative attitude of the Ministry of Economy of Russia and some other governmental bodies. Do you think it's a real threat to a Bitcoin in Russia? May these governmental measures have an international impact?

Russian ministers are changing their opinions on cryptocurrencies every single day, pretty much. They keep contradicting themselves. Unless some hard facts start coming in, I will never pay any attention to rumors coming from Russia.

It's not going to be banned. I know there's been some crazy rumors circulating in the media and that Russia was planning to launch its own cryptocurrency, but if they wanted to ban it they would've followed China and their policies long ago. Instead, we're getting rather neutral or even positive news from Russia. For instance:


Cryptocurrencies Should Not be Banned: CEO of Russia’s Largest Bank
https://www.ccn.com/cryptocurrencies-not-banned-ceo-russias-largest-bank/

https://www.reuters.com/article/us-russia-cryptocurrencies-bill/russia-ready-to-regulate-not-ban-cryptocurrencies-idUSKBN1FE0Y0
MOSCOW (Reuters) - Russia’s Finance Ministry said on Thursday it was working on legislation to regulate cryptocurrency transactions without fully banning them or legalising digital FX as a means of payment in Russia.

Russian Ministry of Finance to Legalize Cryptocurrency
https://cryptoslate.com/russian-ministry-finance-legalize-cryptocurrency/

People seem to have some funny ideas about how Russia works.  They think every time someone in Russia gives an opinion on something, it instantly becomes law, because they're still commies and that's how communism works, right?   ::)

People in the media should have to sit some sort of training course before they're even allowed to say the name Russia.  They just spout endless, ignorant nonsense that has no bearing in reality.  And somehow people keep believing it, even though that would mean Russia would have had to ban it and then legalise it again every other week for all the times for everyone who claimed they've banned it to be right.  So either Russia are completely schizophrenic and change the law every other week, or people are generally dumb and need to stop believing everything they read/hear.  Pretty sure it's the latter.

Russia isn't huge market for bitcoin, so it won't be able to exert a strong influence on the market.Of course, if it's not a fake)

Indeed. I am totally bored of the shit that pours from the mouths of Russian authorities. I will welcome either full legalisation or full illegalisation. At least it'll stop them spouting off and then someone else completely contradicting them the following minute.

Russia is nowhere with Bitcoin so if it did bugger off it would be no great loss. As of now it's up in the air and nowhere.

I hope it does not happen in Russia, and until now Russia has never done a ban on bitcoin, and hopefully all is well.

While this would be bad, it's a move that would hurt Russians more than it would hurt Bitcoin. Also, a "ban" on Bitcoin is stupid, as authorities will have no way of enforcing such a ban. It might make it harder for Russians to buy Bitcoin, but the nature of Bitcoin and crypto networks being global, its ineffective for any country to "ban" it, and a ban is almost meaningless. Bitcoin mining went through the roof in China after their bitcoin ban.

And I think a part of the news of bitcoin bans is just plain old market manipulation. I read several stories during the news of Chinese and Korean bans, that officials were involved with buying the dips the resulted from price crashes after the news. If Russia does ban bitcoin though because they aren't a huge player in the market I don't anticipate that having a huge effect on price, but if it did, I'll bet you some Russian officials and oligarchs will be jumping in on the low prices.

Hopefully it does not have a negative impact for bitcoin users. And all goes well.

Bolded for emphasis. Nothing concrete has been said or decided yet, so it's just FUD until then. They have been very contradictory, as others have mentioned. If you want to listen to someone, listen to Putin. All he's saying is that regulations are required.

Anytime a country decides to ban Bitcoin, you can pretty much just assume that it's bad. Russia isn't a very big market according to trading volumes, but any country with a sizable population has huge potential, and losing it would be a big blow to adoption in the long run.

This is absolutely not true, it is officially legalizes bitcoin in Russia according to this link http://cryptocurry.com/news/russia-officially-legalizes-bitcoin/

even if this is true, that means nothing has changed in Russia. for years the news has been the same. someone says bitcoin should be banned and some others say bitcoin should NOT be banned and so far they have done nothing for years. and bitcoin is growing in Russia. they are even talking about seriously starting mining it.

bans are never serious threat to bitcoin anywhere.

on bitcoin, no.
on price, yes temporarily. but as i said nothing has changed so far to want to have any kind of effects! someone just "talked" that is all and talk is air.