Bitcoin Forum

Russia to Release a Draft Law Allowing Entities to Use Crypto for any Transaction

According to Russian news agencies, the new draft law will enable certain companies or industries such as IT, AI, and those working with blockchain to use cryptos as a method of payment. The initiative has been curated by the Ministry of Economic Development and is characterized as being of experimental nature. The first regions to try a new regulation may become Kaliningrad and Tatarstan.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/russia-to-release-draft-law-allowing-entities-to-use-crypto/

https://coinidol.com/upload/resize_cache/iblock/ab8/900_900_1/ab877d396ac4f49f2b45e07cb2ef161a.png

I do not know what this Russian government wants, why they simply do not legalize bitcoin? What fear does the Russian government have? with so much technology that Russia has, can not they be able to create laws that are favorable to bitcoin and be able to inspect if these laws are being fulfilled? We constantly hear news about Bitcoin coming from Russia and such news is always pessimistic news. We can not expect anything good coming from russia

This is just one of many bills that are pending adoption in the Russian State Duma. We should not forget that there is also a bill on establishing criminal liability for using cryptocurrency as a means of payment. This is based on the fact that the Constitution of the Russian Federation provides only the ruble as the sole legal tender. We do not yet know which of these bills will be passed. However, it was necessary to determine it for a long time. And we only hear the conflicting opinions of politicians about the emergence of new bills.

Yep, until there is a bill officially signed and approved by Putin, I don't take these proposals seriously. There's been a slew of proposed bills contradicting each other. There's also been lots of different officials stating contradictory views on the legalities surrounding cryptocurrency. It's all moot until something official happens.

I am agree. It's not a secret that the government of Russia controls its national TV and all this time I heard only something like 'crypto is a pyramid'. But now they take their words back and say something like the name of this thread. OK, let is be as an experiment if you guys wish so.

The new will not clarified allowing to use as crypto payment method, this a trial experiment or permanent legitimately allowing for russian people use crypto as legal.

Correct, damn, it was like 2 years ago when they said they're going to be crypto friendly, even pictures of mining farm surfaces last year, but up to this day we haven't seen any proof whatsoever that they are going to adopt crypto, and the contradiction, LOL, no official spokesman, its like "he said, she said', to me. I'm been telling this all along in this forum for quite sometime and I still hold on that belief until some drastic changes happens in Russia, for now we should take everything with a bag of salt.

I stopped reading all the "conclusive" news about cryptocurrency status in Russia a year ago
it is same as India  crypto legislation wise - been dragging for over two years with neither green light nor ban
Russia was toying with a state cryptoruble creation at some point, but now they have some other ideas
one of them is to use cryptocurrencies to dodge sanctions, but this is too complicated and requires alot of work to get the law  drafted
I won't expect anything concrete this year

I can tell you exactly what they want

They want Bitcoin to remain as it is (if it is not going to die on its own, which would be the best outcome for them). Just in case, Bitcoin as well as other cryptocurrencies is not illegal in Russia, and this is the way the authorities see it best at this time, i.e. Bitcoin remaining in the gray area. They can't openly legalize it because common people are likely to lose money with it, and then the government will have to deal with the consequences of that. But they can't ban it either because such a ban will be ineffective anyway


There is no such bill (as far as I know). What you likely heard were only empty threats and fearmongering

I think Russia has flip-flopped more than any other government on cryptocurrency issues. In 2014, the Prosecutor General said Bitcoin was illegal because it was a "money substitute." In 2016, the Federal Tax Service declared bitcoins were "not illegal." The same year, a bill was proposed that would have sent Bitcoin users to jail if passed. Statements from the Finance Minister and his deputy have literally contradicted each other.

There's obviously a huge amount of internal dissent, which is why we've never seen an actual law passed.