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Russian president Vladimir Putin is a bitcoin skeptic who wants cryptocurrency regulations in place “by July 1," according to the official government publication Parlamentskaya Gazeta.The regulations are part of the Digital Assets Regulation Bill, which is expected to set guidelines for cryptocurrency use in Russia.

Separately, the Russian Ministry of Finance plans to introduce a law that will criminalize the use of cryptocurrencies as money substitutes.Elvira Nabiullina, head of the Bank of Russia, said she and the Russian Finance Ministry oppose the use of virtual currencies "as private money and money surrogates,” saying only the ruble can be used to pay for goods and services, Bitcoin.com reported. "There is the ruble, and everything else is a surrogate," she said. Nabiullina said the move to criminalize the use of bitcoin and other digital currencies as money substitutes is to protect the Russian ruble. "This is necessary to protect the ruble as the single legal [means of] payment in Russia," she said.

https://www.investopedia.com/news (https://www.investopedia.com/news/russia-criminalize-bitcoin-use-money-substitute-putin-roll-out-laws)

Also what here it is possible to tell still? At me, the truth, the question arose: who there controls Russia - Putin or any Nabiullina? One thing is clear: in Russia everything is very bad with the crypto currency. Apparently, the regulation will be approximately the same - step to the right, step to the left, shooting on the spot. What has been done with Russia in recent years? There is a general concentration camp.

So, you can trade it as a commodity, but you cannot use it as a currency? These governments need to make up their bloody

mind, especially Russia. We have seen a jump from the one extreme to the next with the Russian governments

announcements. The one moment Putin is talking with Vitalik and the next thing you hear that they want to ban it as a

currency. All this to protect a fiat currency that are worth @#$%%.  ::)

Bad days for bitcoin

It's simple, you just have to ignore whatever comes from Russia.
They are having their private race in BTC related misinformation with China and they are eager to win.

I've probably seen bitcoin approved about a thousand times, banned the same amount, not to mention the other hundred projects of crypto related activities that never materialized.


Serious? Is that even a question?  ;D


Regulation in Russia will be like traffic tickets, nobody will give a damn about them.
You hit a pedestrian and you are fined 30$.

Hey, your comments and the second  post is confusing. Putin wants crypto currency but not as a currency? Then what bill they are planning to bring, is that a crypto ban bill? I think the news is not completely posted here or complete with information not shared here. Need to have more information on this, then only we can come to a conclusion on Russia stand on crypto currency.

If so, we (cryptocurrency community) should criminalize Russia and Putin!
Some day his evil regime will fall and prison of nations will collapse!

Try it

I ignore all the news coming from russia and china, that is also beneficial for you if you trade coins. Only news people should take care of it are the ones from usa. Everyone knows it.

    This is just so freaking confusing. they are just confusing people and saying all sorts of stuff when all they are gonna do is get rid of the chances that it will be used by their people. They really aren't doing anything to help legalize bitcoins. What they are doing is making people think that they are trying but at the end of the day, they will still ban it for personal reasons and agendas. Although They say that they are just protecting their countrymen and their national currency, I still can't get myself to buy that shit.

Bitcoin falling.....

Governments are obviously afraid of bitcoin and would prefer a national cryptocurrency they can control. It is known the Rusian central bank is against it saying it is used for money laundering. As long as some government does not declare you can also pay taxes in crypto the fate will be uncertain.

I don't know how many times they will legalize and then criminalize Cryptocurrency!! Russian finance authority seems confused about their actions and unable to come up with a proper legislation from some time now.

But whatever happens, it will just be another exit from a communist nation like China who believes in strong centralization of power. A temporary impact will be there but nothing for long term

Nothing surprises me here because I always think that bitcoin will not be recognized in Russia. One sign that I really doubt is that they kept on contradicting themselves.

And then Putin, has already the crypto-rubble, so it means Russia has its own crypto and wouldn't even bother to even accept Ethereum, which we all know that Vitalik is very close to Putin.

And now this news. Of course the one that will be severely affected is the Russian Crypto Community. They need to be very careful because we all know how authoritarian this regime is.

as I have been saying for the past two years, until there is actually a law in Russia regarding bitcoin and its usage and other cryptocurrencies, everything you hear in the news regarding Russian stance is a total bullshit and must be ignored.

for years the news has been saying similar and at times contradictory things regarding bitcoin. you can find articles saying Russia is banning bitcoin and articles saying Russia has no problem with bitcoin at the same time and to this day no law has been set for bitcoin... and talk is cheap!

You left out the most important detail on your title.

Whether you want to take Russia seriously or not, you have to recognize that plenty of other countries have already taken the same stance (Vietnam, Indonesia, etc.), and none of them has had a substantial effect. With Russia's trading volume, I expect it to be more of the same. The thing is, not too many businesses are willing to accept crypto anyway so it's not a big deal yet.

Russia is always across its throat, its people ((everywhere it needs control, it's terribly annoying, not only me but even other countries)

many threads appear in the last weeks (months) with bad new against bitcoin, but in the end most of the stories are not so bad in the end and not really bad for bitcoin. i'm curious whats the next "bad" news is.
is this all to manipulate the people?

And how can it be possible at the same time to regulate the crypto currency, and to prohibit its use? In my opinion, these actions are incompatible with each other. And in general, simply do not pay attention to the words of various politicians., So they are contradictory. You just need to expect the adoption of specific laws.

It is the right time for all of us if the bitcoin is falling, because bitcoin use to fall for the benefit of people. It is good to use bitcoin at the time of low price. I must appreciate those wise people who use to buy bitcoin at low price and has saved for the long time, no one can stop bitcoin it will increase more and more with time, I would say you to buy bitcoin and saved bitcoin can be use for all kind of reasons, for good and bad, but the main thing is bitcoin is the best currency for all.

OP and many others have not even read the DUMA drafts from russia...

all it says is that registered businesses of exchange will be regulated and any individual that is exchanging under the pretence of running a business doing exchanges (exchanging amounts deemed more than personal use) would have to register as a money business or get fined (very simplified version)

Let's see who wins. On the one hand, Putin, who previously stated that it is necessary to regulate the cryptocurrency market and what is the future behind it, and that everything needs to be done to succeed in this market. And on the other hand Nabiullina, the inadequate lady, I do not want to comment. she's insane.

All those actions by the Russian government is just means to spread bad news about bitcoin and way to talk the price down and cause people to lose interest in buying and holding bitcoin and if the government so wish they can said the use of bitcoin as a payment system in it jurisdiction is illegal but that can not stop the use of bitcoin because is decentrazed and at that can't be control by any government or it institutions.

This would affect the price of bitcoins for a small period of time just like what happened with China but I doubt that it would have any affect in long run.They are just afraid as they don't want any decentralised currency in their country as they can't control it.I'm sure that after few years there would be news that they're are now fine with bitcoins and after some time again with criminalize bitcoin.

If this is true by any means,then it is a really big mess as there are some big projects coming from Russia and we might not see them developing further unless they have the capacity to move out of the country which is a big ask,only time will tell what the real outcome will be from major countries and hopefully there wont be any ban.

Is this a real news? how can i make sure that's real? Putin wants crypto and they regulated it i don't know why the media keeps on giving false information. They should show the whole world that RUssia is not a criminal,

Supporters of bitcoins can point to a number of advantages: from the ability to use block machines to track other things besides money, to built-in support for smart contracts that are automatically implemented

Putin is the president of old views. I think he does not want to accept a new world in which every Russian citizen can earn a decent home.

why did you just bump a 2-3 months old topic to say this?
not to mention that this news was a big FUD to begin with. there has never been any "criminalization" of bitcoin in Russia ever.

All actions by the Russian government simply mean spreading bad news about bitcoin and ways to talk prices down and causing people to lose interest in buying and holding bitcoins and if the government really hopes they can say the use of bitcoin as payment system in it jurisdiction is illegal but it can not be stop using bitcoin because it is decentrazed and at that time can not be controlled by any government or institution. If this is true in any way, then it is really a big mess because there are some big projects coming from Russia and we may not see them developing furthermore unless they have the capacity to move from a country that is a big demand, only time will tell what the real results of the big countries are and hopefully no restrictions.

Some government see bitcoin as a threat to their economy. There is no denying that bitcoina allow people to ease their illegal transaction. Bitcoin is known to be used for trading drugs, guns and pornographic materials. Bitcoin is not meant to be used for bad but since its feature are advantages to make transactions, then it is used for illegal too. And this makes a government threatened.

Certainly this would be a big blow towards the economy of the cryptocurrency narket and there would be surely a lot of favtors at work here. But, we must not let this bring us down us we should still be strong enought and resilient enough that we can still persevere. Russia is a big country and they might not have been able to see through bitcoin for what its worth. However this moght kust be a precursor and might just be the initial step towards them regulating it and we shall just have to wait and see

This goes to show much the governments sees bitcoin as a threat. Because simply, they fear what they do not understand and have no control over.

not at all. THIS only shows two things.
1. people don't look at the date of the topics anymore. they just read the title and spam in it.
2. people easily believe the bullshit FUD rather than bothering to stop being lazy and check the facts.

Crypto-currencies lead many people into the shadows and give the opportunity to inconspicuously withdraw large amounts of money

I do not care about any news about bitcoin coming from russia country. they just play with bitcoin prices.
and they benefit from the news

People should not over react to news coming from the Russian government, because they are notorious for changing their minds and talking from two heads. The Russian government have been "banning" Crypto currencies for the last 5 years now, if you listen to the media, but the people on the ground are saying that it is business as usual.

The one thing that are guaranteed is that we will never get one single opinion from the Russian government.  ::)

The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes. The Bank of Russia and the finance ministry have previously opposed the use of cryptocurrency in this way, citing that only rubles can be used for payments of goods and services in Russia.The Russian Ministry of Finance proposed last week to “criminalize the turnover of money surrogates,” including cryptocurrencies, Interfax reported. Deputy Finance Minister Alexei Moiseev revealed during Vnesheconombank‘s conference that his ministry has “prepared a draft law on criminal liability for the turnover of money surrogates. This seems to be kinda bad news .

The final decision has not yet been made, and all the rumors, statements and speculation are not worth your attention. The government will make a decision that will be beneficial to it.

So far, these are only words of significant people. When the document with a clear position will be released, we can talk about any attitude of Russia to bitcoin. And human opinion can change a thousand times.

The news always seems to be all over the place with regards to Russia and crypto. I remember seeing many things stating Russia and even Putin in particular were trying to be very friendly to crypto technology in general. But there's also stuff like OP which paints a completely different picture. One thing that might be the saving grace of crypto is its potential to move around large amounts of money for Russian oligarchs. That may help them evade sanctions and such. On the other hand, if western governments see this that might give them pause and have them take a harsher stance against crypto. So it's not necessarily a win either way depending on how it plays out.

in Russia, the dollars are paid sometimes? why dollar is not considered to be a surrogate? they should be banned! and the ruble to cancel and legalize bitcoin)))

Each country has the right to determine its own country's policies. When judging from history, Russia is often different in view of economic, monetary and labor policies with many developed countries in the world. Although Bitcoin is banned in Russia and China, Bitcoin continues to thrive in a number of developed countries such as Japan, Sweden and some European countries and Canada and America.

it seems that if making bitcoin crime seems like it is not very good because bitcoin is a very neutral coin and should not be used for bitcoin such a bad action. better bitcoin is used for legal payments.

There are many propaganda and speculative news in the market which is really not healthy, the people behind these content just wanted to get a click by making headlines which sounds crazy and way out of line with the actual context, unless there is a notification from the government, it is still a speculative news about the event that they might criminalize the use of bitcoin.

It is real that thru adaptation and legalization bitcoin will be much be successful as a crypto currency in the market but unfortunately some other people trying to use it in improper way which actually cause a harmful effects to others. Bitcoin systems in different country's can have a separate or additional regulations based on their government because at the same time they wanted to atleast controlling it. One of their big issue is bitcoin are can be use in such a illegal activities which is the government  are afraid and wanted to avoid to happen that's why they st some guidelines and regulations in using bitcoin system which is in some part is good to be done.

Russian criminalization of bitcoin will lead to a blow in bitcoin price. Most ICO with Russia base won't be able to run successful. It means all major economies will be despising bitcoin

i tell you one thing

the nazis have killed 6 million jews over the dominance of their financial system, its not going to be easy and without conflict to decentralise a financial system even if its an unpopular neofeudal elite.

bitcoin is not strong enough for this, its only weakening their defences, and their weapons but for truly decentralising the financial system we have to work substantially better than bitcoin

If rubel was so amazing then it wouldn't be in danger at all - and no cryptocurrency might jeopardise the rubel viability.
The truth is that Rubes is highly unstable currency and the Russian government are scared that stong cryptocurrencies will undermine its weak position.
I don't think we have anything to worry though - AFAI Bitcoin was briefly outlawed in Russia - and this 'ban' didn't do anything.
Russian citizens have a long history of avoiding problematic laws and finding workarounds.

This is not a good news for bitcoin. A powerful country such as Russia going against bitcoin would be devastating for the bouncing back we have been hoping for,i just hope the negative effect won't start having effect in the following couple of days

We shouldn’t be sharp to jump into conclusions just yet, Russia isn’t really a strong crypto economy like Japan and the USA, we all know the stance of Putin about Bitcoins some time ago. This legislation isn’t going to make any big dent.

This is ridiculous. they just confuse people and say all kinds of things when all they are going to do is get rid of the chances that they will be used by their people.

This is simply so cracking confounding. they are simply confounding individuals and saying a wide range of stuff when all they are going to do is dispose of the odds that it will be utilized by their kin. They truly aren't effectively help legitimize bitcoins. What they are doing is influencing individuals to feel that they are attempting yet toward the day's end, they will in any case boycott it for individual reasons and plans. In spite of the fact that They say that they are simply securing their kinsmen and their national cash, despite everything I can't inspire myself to purchase that poo.

 They are gonna do is get rid of the chances that it will be used by their people. They really aren't doing anything to help legalize bitcoins. What they are doing is making people think that they are trying but at the end of the day, they will still ban it for personal reasons and agendas

I think russia has banned bitcoin and of course the country has a strong reason so that make the rules that will make the bitcoin users threatened criminal penalties I think not only in the Russian state it already applies

On the other hand you hear so much positive comments and news from Russia about 'blockchain' and such. I think I remember there was even one where Putin made some sort of positive mention.