Bitcoin Forum

Dmitry Marinichev, a government official under President Vladimir Putin rule revealed in an interview (https://cointelegraph.com/news/putin-s-internet-ombudsman-pessimistic-about-crypto-regulation) that the country's regulatory position towards cryptocurrency will largely stay prohibitive. According to him, Russia doesn't want its citizens to earn money through cryptocurrency so, regulation will mainly stay the same despite the increase of crypto interest in the country.

This is basically more of the same. Russia trying to tackle cryptos while blinking an eye at the same time.

What kind of a logic is this? Why wouldn't they want their citizens to make money through cryptocurrencies? There is nothing wrong in this. I assume that they are hearing about the "investor" word for the first time in their life. Otherwise, I don't find this reasoning logical. People are free to make money in whatever thing they would like. They can choose regular professions or they can do different jobs.

But if this is about the volatility of this market, then things change a little. But still, I don't think that it is the right thing to do. You shouldn't restrict people like this. You can solve this problem by imposing tax on cryptos. It would be a win-win situation also.

Thanks to the permissionless and censorship-resistant nature of bitcoin, Russians can frictionlessly continue their interactions with the ecosystem, no matter how severe and restrictive totalitarian regulations may be. Generally, the lack of clarity of regulations or expansion of prohibitive measures is positive for the natural growth of the bitcoin economy because, in such an "unfortunate" case, people have to make direct transactions in bitcoin without having to reveal their identity through different KYC/AML procedures. Moreover, peer-to-peer fiat on/off-ramps are still there, voluntary exchanges between individuals are not subject to government regulations.

I think this is called another fud. And the logic that goes throughout my head. I truly didn't understand what he wanted to say. Do you want to legalize crypto in your country or not? If yes, then why would people use crypto in your country if you didn't give them a chance to earn money through it? Is it worthy for a person to just understand crypto? Why do people waste their time on cryptocurrency if you don't allow them to earn any?'t know how a person like Putin Sir, who is the president of a country called Russia, which is the most advanced cyber country in the world, says something like that. Russia has always been my second favorite or dream country because of its cyber world.But this statement truly hearts me. "

According to this: https://www.bloomberg.com/news/articles/2021-10-14/putin-defends-cryptocurrencies-amid-global-regulation-push

Putin said: Cryptocurrency “has the right to exist and can be used as a means of payment,”...

Yet: "Still, he cautioned it was too soon to talk about using digital currencies for trading oil and other commodities that form the bulk of Russia’s exports."

So, i assume that (actual) Rusia goverment dont want ban cryptos, but regulate them...

Obviously, authoritarian Russia keeps being authoritarian... As usual.

If by cryptos you mean centralized shitty CBDCs, then yeah. They may like that, or simply prefer it from a currency whose purpose is to distinguish money from the state. You say you wanna distinguish <insert_anything_here> in Russia? You're eliminated.

does not make sense. then whether by banning crypto they are given other jobs that support its citizens?
it is precisely with this that they actually have to think of something else compared to banning.
a ban like this will only increase the number of people who do illegal things because who doesn't want to benefit in a way that can be said to be very easy and without the need for great energy for this.

Not really that surprising or shocking thing because they could really make out decisions just like on what other countries views similar to bitcoin.Of course government doesnt really like nor want decentralized things or objects which makes them its really hard to trace everything up.They could say up good things but doesnt mean that it is automatically considered that they would be adopting it.Everything do change in a blink of an eye and sooner
or later i wont really be surprised if these sentiments would turn out to be positive later on.

As you say, it is not a surprise and the officials at the top of the Russian government don't want any money to escape the country - the economy is already on it's knees. A big part of the reason is the state wants to run any blockchain mining operations as they are relatively straight forward and this way they are able to capture the whole market for themselves. They can use the vast energy resources that Russia controls to print cryptocurrency that is currently in high demand, so why would they let private operators profit from this activity. The government and it's cronies have their hands in control of ever lucrative business in the country, it was almost inevitable to reach this outcome.

How does that make any sense?

Anyway, this is just one spokesman - I doubt they are in such sync. I don't believe the nonsense he spat out. Russia is already getting more than interest in the crypto space.

Do we really think Putin is going to let this opportunity pass right by him when he could make Russia the next China? Yh...

We learned from Chinese example that strict government regulations and bans can make positive affect on Bitcoin, so I am not concerned at all with Putin and changes with regulation in Russia.
All governments in the world are in big problems with inflation, printing of money and economical decline, so Bitcoin would mean losing of control and they are very much afraid of that.
Only thing they could do is to create some centralized junk digital currency with full control and tracking like in China, but people should refuse that and choose to have their own bank aka bitcoin.

Where did you read this? Sounds more like the article trying to spread FUD. Why would a country be against crypto currencies because they don't "want their citizens to be earning from cryptos"? That would be plain stupid. I am sure the reason is something else. It is probably because their government is currently not being able to find a proper way to regulate crypto currencies. And doubt Russia will put a ban on crypto currencies.

I'm not sure why he doesn't want the Russian people to use bitcoin but all we know is bitcoin will bring borderless transactions to people and this cannot be good for a government that tries to monitor people's actions all the time, I'm not sure about it but my friends from Russia told me that the governments are usually trying to check the people by collection private information such as even sniffing phone calls, so bitcoin can not be good for this kind of governments, and I'm not surprised of Russia thinks like that about bitcoin and bitcoin users.

I can be mistaken, but from what I've heard about Russia it's government doesn't want citizens to earn in any kind of way  ;D

My interpretation of the interview was they just want to regulate cryptocurrencies in a way they stay in their own economy. I don't think Russia will go as far as to ban cryptos altogether.

How they plan on doing is probably a mystery to them just as much to us.

Russian and Chinese regulations are the same, they are like banning people from using crypto and adopting crypto.  I think maybe Russia and China adopted a strategy to influence the crypto market with nonsense statements, so that Russia can profit from the controversy.

This is not supportive of the citizens' goals and ideals in any way, and does not give opportunities to the Russians that are affected by this prohibitive regulation. Well, what do I expect of communist Russia anyway? They would only like to keep their riches within their borders to plump up their economy, and to show the world that they are superior and catching up on their Western counterparts.

Just imagine if Russians were allowed to freely take part on the bitcoin and crypto market. That's a lot of money that could come in to their economy. Then again, their thinking is that it bitcoin and crypto can be used to take out riches on the Motherland and take it somewhere else.

I was under the impression that Russia is a crypto friendly country but from the above I can see they aren't, why the government trying to be hard on crypto, till now I don't think I have come across news of Russia being negative towards crypto, too bad for btc lovers over there, they will definitely find it difficult to operate crypto.

As far as I know, Russia allows crypto trading but may never permit their citizens to use it as payment for goods and services. Not allowing their citizens to earn money in crypto is kinda absurd like what China did in their previous crackdown. There’s nothing wrong for them to earn money in cryptocurrencies as they’re just gonna regulate it instead of an outright ban.

If this is true, this is good news since totally banning it means negative to the crypto market and might affect the price a little bit. But according to it, they just wanted to learn how to manage it well when their people started to adopt it. If they're the one who is regulating the use of crypto, then it will be a huge blow to China since they might be thinking that banning the crypto miners in their country would cause chaos in the crypto industry that would lose the trust of other countries from considering the regulation of the crypto industry.

We do not have to be surprised to see if Russia does not want its citizens to earn money through cryptocurrency because they think it is hard to control the people involved in crypto. Even with regulations, it will still be hard to control their people because they can use VPN to keep connected to crypto. But apart from that news, I do not think that Russia will ban crypto as we see many Russian people still working on the crypto projects and hopefully, their government will still allow their people to make money from crypto.

It is a sign of all totalitarian regimes that they want to control the population in all areas. Those who use or earn Bitcoin make themselves independent of the national currency and the national monetary system and weaken it at the same time. That is why Putin cannot be interested in the Russians using alternatives to the totally controlled Ruble.

If it prohibits its people from earning income from buying and selling cryptocurrencies, it means that all types of online gambling must be stopped as well.

Is trading crypto with gambling the same category? I don't think it's included to be banned. Perhaps Russian regulations have a different point of view and application to crypto. They are concerned about a significant financial shift from banks to crypto.
Even Russia has many crypto projects like the Waves Exchange if I'm not mistaken they dominate in Russia so actively. It is clear that the regulations of the Russian government will be very difficult for them to accept. Even other crypto projects provide great opportunities for Investors to enter. Just because you can't control it, why not provide certain conditions so that it can't be banned.

Not really a shocking news! Last year I believe, Russia placed a rule where they said that crypto miners can continue to mine but they can't receive the mining reward in cryptos. That means you can breathe oxygen but you can't exhale Co2. Hilarious!! Isn't it!

But a communist country is like that only! You can draw examples from China and North Korea. Communists know how to suck the blood without saying that they are sucking the blood! In my personal opinion, Taliban and Communists are same, just the weapons are different!

This is going to be a pretty controversial policy especially for friends who are in Russia today.
because what I know is that Russia is one of the countries where a lot of its citizens are in the crypto path.
and when a statement like this exists and the policy has been set then maybe the case will be like China today

You're awesome. The way you've briefed the prevailing stand of Russia government on cryptocurrency usage makes everyone understand it. This is common practice with Russia and other communist countries. The manpower needs to be used rather than the machine power. This is what insisted mostly.

This isn't the first time Russia making such a stand. Years back itself Russia made similar Statement in usage of bitcoin. It adopted the blockchain technology for its effective development of financial infrastructure, but it never legalized or supported crypto by that time. Maybe things will change with time, because everything needs its own time for transition.

Cryptocurrency wasnt really created for the sole purpose of making income or would generate profits into those people who do tend to engage with it but instead it was created solely for the purpose of making p2p transactions and earning income is just a bonus or one of its benefits since its been common
adopted widely and if a certain government do really make out some decision that its citizens shouldnt really make out some involvement then its just understandable that they would really be following those orders but due to anonymity of crypto then for sure there are some who sure would really be playing with fire.

The statement of Putin before brings hope to everyone that he believed crypto has a value so does it mean he is now pessimistic about crypto? I guess this is really like China wherein at one day, they will be accepting crypto, and on the following day, they will impose ban about crypto. Sad to say but those who have been residing in Russia who has been holding lots of crypto from his wallet will find it hard to sell the coins because the country itself does not want to support crypto and all its crypto enthusiasts. Hopefully, the government can decide what's best for their citizens, and not for their own desires.

It’s just words of Dmitry Marinichev. Look on China now. There parliament strictly declares that all crypto-currency transactions are forbidden. So they really don’t want their people to deal with crypto and to have any crypto income. On the other hand is Russia. It has no aggressive politics towards crypto and Russian President is very loyal to crypto. In his recent interview with CNBC he even has said that crypto “has the right to exist and can be used as a means of payment”? ( https://www.bloomberg.com/news/articles/2021-10-14/putin-defends-cryptocurrencies-amid-global-regulation-push ) It proves that they don’t mind of operation with crypto.

If this news is legit, then i think Putin has already lost his credibility. It was said in the previous news that Russia does not mind crypto transactions but now crypto is already in strict prohibition. I might agree on you that Russia is a totalitarian and that they want to take full control of their citizens and all their activities. Crypto may invade the country's monetary system but it will never replace their own currency in the long run. Maybe if they are open to adopt crypto, then it will also help to boost their country's economy which i think they are not aware.

I feel like all the governments in the world that are against using bitcoin and crypto have one of two reasons, either they don't want to deal with the outcome of people using it so they would have to allocate resources and logistics of tracking the ones who are earning from it, or they are afraid of it spreading  corruption and illegal activities due to the anonymous nature of the transactions, and this was the idea that the Russian government kept on saying when they banned crypto some time a go, but with this industry becoming more and more of a mainstream it is inventible that they will have to adapt like any others to its  huge progress and technological advancement.

Russia has never been crypto-friendly. Rather, the Russian government, headed by Putin, never cared about the people, and this was clearly expressed in this interview by the official. Putin is only interested in his own greatness. Previously, he expressed a different attitude towards cryptocurrency, but when it came time to make an appropriate decision in the text of the law, he turned out to be one of the worst ones that were adopted by states. As long as Russia is ruled by the Putin regime, the people will not have the right to freely use cryptocurrency.

What a strange logic. Not allowing someone to earn means not wanting to get tax payment from them. They dont want to have thei budget filled? I think they just dont understand how to control or monitor crypto completely. As soon as they figure that out - crypto will be 100%. And isnt it like they can mine, trade and pay tax right now? What is “doesnt want” then?

It was mentioned that they want only russian ruble to be the only currency. But istn in late 90’ the so called “conditional unit” was used as an additional payment? (That is what they call us dollar). I remember like it was yesterday, that in one of Moscows restaurant menus prices were RUR / C.U. (Conditional unit).

Well, what can we expect of a country like Russia? Lately, Putin was heard talking that cryptocurrency has some value and can be used in payments and then we all assume that there is hope the government can be allowing cryptocurrency under a strict regulatory framework but right now we don't see anything dramatic in the country as far as cryptocurrency is concern. I am not so sure but in my view Putin is referring actually to the government using cryptocurrency in international transactions and not talking about its people participating in the cryptocurrency marketplace. Still, we are hoping that one day the country can slowly open its market for cryptocurrency and legally allow people to hold and trade cryptocurrencies. They should be proud that Vitalik Buterin has a Russian blood but as of now Ethereum is not yet being allowed within the country. Anyway, the advantage of not having Russia is we can be free from any FUDs coming from the country after we got so tired of receiving many false news coming from China months ago.

All this countries that embrace's cryptocurrency before, and right now the same country is now kicking against cryptocurrencies, so what's the regulation there they really want? they should make official announcement that bitcoin is ban there, than for them to portray that using bitcoin for transactions exchange is prohibited, this is the same thing  one of the African country did (Nigeria), by restricting her people not transact with cryptocurrency generally and bitcoin in particular, but it seems today they launched her eNaira digital currency expecting people to use it. Government of Russian can pass order not to earn money through bitcoin, but is very obvious that any order made because of bitcoin can not stand effectively, later run it will be revised  by the government indirectly.

Just like China but at least they seem to be too vocal about it. But will they stop their citizens who are likely earning more with crypto? We don't know until they track all of them.
They've always been the same in the past that's more likely on the side of being negative to crypto and we can't blame them. But there's this statement from Putin that can't remove that there's an actual value for bitcoin.

It means Russian can still use cryptocurrency and invest into it but under government regulation. Also people will always find a way on how to earn in crypto because they know how profitable it is even risky. We are lucky in our country that allows us to trade, invest and use cryptocurrency as a mode of payments.

Tbh, it's basically the same thing with many countries today, though some will prolly be more hostile than others, but the thing still remains that they do not like decentralized networks/cryptos, they do not want their citizens to have freedom and control of their funds, neither do they want them to be their own bank, thus that's were such news like this stems from. Having said that, I expect government regulations to continue as far as dex crypto is concerned, but it wouldn't really affect Bitcoin in the long period, all the regulations is just in a bid to dissuade people from using the network and maybe use their CBDC, but quite a lot of people already know the advantages of the Bitcoin network and if the government puts a stumbling block, then they'll effortlessly use P2p service to buy Bitcoin, the government can just contain/control it.

Just relying on the Russian government to say that the country is not friendly to the value of crypto is extremely wrong because from quite a few survey indicators of crypto participation and mining, Russia is also standing in the top countries, maybe Putin is more greedy about greatness but behind greatness still needs the approval of people in that country. The lack of freedom here is just a political stance, too many countries have thisism but the problem is that people are still used in the most private way, instead of being severely punished openly.

Actually, Putin has said recently that he wasn't going to ban crypto in Russia. It is not allowed to pay with crypto, but russians still can trade and make money on it. On the other hand, it is obvious that authorities are not very excited about crypto as it gives financial freedom do citizens and as a result it is difficult to manipulate people.

Being optimistic that was the opinion of only one official of the russian government. Even inside totalitarian regimes there are different opinions which are gathered by the central leader and his closest council in order to reach the most benefical solution (or regulation) for the regime. I believe russian government isn't fool and at the right time they will adopt crypto currency just like any other normal country, because they will profit from it after all through taxes and economical boost crypto currencies can generate for the country.

I would compare the currently crypto adoption impasse to the capitalism adoption by communist regimes, which was inevitable.

Russia is a country where they want to control everything. It is rather difficult to track the income on cryptocurrency, so they want to do something about it.

I hardly see this as a problem for the russian peeps or may be peeps at any corner of the world. By now, btc has reached every corner of the world (directly/ indirectly) due to it's nature. Being on the blockchain has given it deep routed existence which no government in the world can change. In fact most of them are just banning the crypto by means of stopping its purchase through their bank accounts directly. There are million more ways to get into the crypto. You have cash, you exchange it with the foreign nationals and they will transfer the crypto to you pseudo anonymously over blockchain. Work done properly! I seriously think it is a problem for them. Even in my country peeps are using p2p platform on daily basis. The p2p even surpassed the local government by registering its domain to the foreign land with its offices off shore thus no local government can interfere with them. Since all the work is over the internet they hardly get hampered by local authorities. So tell me something new about it, bitcoin is inevitable its gonna reach everywhere.

Rusia believe that cryptos has a value but cannot be used for oil trade, that's all!. wherein there's no such issue when it comes to that country, although its not yet supported by anything base on my research but guess what it can be use already for payment. So for that reason i believe soon rusia will follow what El Salvador did on crypto because they're cryptp friendly as well obviously.. So what you have here mate is totally fuds.

In another interview recently, Putin did mention crypto and how important its value can be, just not for trading 'oil' which I don't really understand but from his first statement wherein in he knows the value, he definitely knows that the people of Russia will benefit a lot from this, and knowing Russia, they won't lst their people profit without them actually taking profit as well.

link - https://www.cnbc.com/2021/10/14/russias-putin-says-crypto-has-value-but-maybe-not-for-trading-oil.html

I really believe that what's in a thread is a big FUD. I have read the news before telling about how Putin believed the value of crypto but its just that it cannot be used for oil trade. Hopefully, Russia will soon to accept crypto knowing crypto has already been widely famous in their country and it could mean a lot of profits if the government will support it not just for individual's economy but for the country's economy growth as well. I know crypto will create more developments in a country and this is one of the reasons why even big countries have been interested in crypto particularly bitcoin.

This kind of response should not be followed, logically being an investor is everyone's desire to add income so officials like this should consider the economy of society, now we have seen many societies whose economies are changing because of investing in the crypto world, so banning is a big mistake because everyone has their own way to earn money, Putin's previous statements guided the Russian people to participate in the crypto world.

in this thread russia has nothing to say against cryptocurrencies, but it does not improve the status of crypto in the country. The possibility for crypto legalization has not yet been seen in that country, but I think people can still invest in crypto at their own risk, without any protection from the government. hopefully with the rapid development of crypto, will change the government's decision

It's another fud to crypto platform but like it was used to there's no big effect on the platform because despite of many fud arises crypto platform keep on growing. However, this kind of announcements of Russia made a prohibition to its constituents who wants to invest and earn in bitcoin or any token related in cryptocurrency really affect those citizens to follow their will because whether they like it or not they will need to follow the rules.

yep, and from the OP's pinned article it is also clear that they like crypto even the adoption of officials there is increasing.
but on the other hand, until now the Russian ombudsman for the protection of the rights of entrepreneurs under Russian President Vladimir Putin is still a priority there and indirectly there are still restrictions even though they can still adopt crypto.

I don't think the Russian citizens should be scared about this and their government, am from africa and my government had tried this, (I don't understand why government stifle the progress of it's citizens in crypto-currency) but what I learnt from when my government tried it was the true definition of how crypto-currency is decentralized, even in russia, the citizens can still be crypto-currency enthusiast without being scared of Putin or the government.

There is a somewhat misleading discussion here. Russia is well aware of all the advantages of cryptocurrency. But to fully legalize cryptocurrency in the country, all incomes of citizens must be taxed. Taxation itself is beneficial to states, and Russia is no exception.
But until the law on taxation of digital assets is fully enacted, it is useless to wait for the country's adoption of cryptocurrencies.

if this is not said directly by the president of Russia then I will not believe it 100%. anyways I've seen in a news post that wrote that the president of Russia officially said support crypto so I won't just believe this news.

Regulations like this will certainly annoy crypto users in Russia, because we know Russia is a fairly large crypto user. Even Russia is becoming a pretty big bitcoin mining center nowadays.
Either the news is just an alibi or is it true about the regulation prohibiting its citizens from earning from crypto.
this is in stark contrast to the early regulations that accepted crypto's arrival well.
Maybe the Russian government will tax it but in a different way later.

Yeah, I don't think Russia's fighting cryptos because lots of people use them there and conducting various crypto-related operations. But careful words of Putin recently, and more cautious and slightly anti-crypto words of Marinichev set the general tendency that might eventually grow into more negative actions. Well, another win for Ukraine in the hybrid war, since Ukraine has been bullish about cryptos for a while and currently has a long-term plan of fully legalizing crypto operations, making both trading and using cryptos as payment fully legal (not it's in the gray area, sort of). The idea is to adopt cryptos and impose favorable regulations to boost the economy. More on this here (https://bitcointalk.org/index.php?topic=5350907).

There is no logic behind this. Just visit the Russia and then visit the USA or Europe, you'll see a clear difference. I have many young friends in Russia and all of the hates the politics of Putin. There is corruption, bad police, bad quality of life in Russia and I have lived once here, have never clearly seen from Putin that he was doing something good for this country. Moscow was the only good place to live in Russia, other countries (most of them) are just abandoned.

Russia isn't rich, well, it's better than most of the countries but again, everyone, see the statistics, it's not that good and I have no idea why you have to lock the way of earning money, especially when you haven't built a super heaven place.

i keep saying that russia has no intention of being bitcoin friendly because the russian government regime is similar to the chinese government regime, just look at statements from russian government members who i realized they dont want people to russia earn money with bitcoin, we are talking about a country where the position suffers and where there are no freedoms, of course you would not want bitcoin

True that. The unclear regulatory in Russian crypto is a win for Russian crypto enthusiasts because they don't have to subject themselves to compulsory KYC services in order to access crypto. However,Russia government is just delaying the inevitable. At the end of the day, they would have to integrate crypto into their systems since it would help restructure a lot of things like governance, DAOs, etc.  Placing bans on crypto would only motivate people to find out what government is trying to keep away from them.

There are always conflicting news regarding this and most of the time these are just rumors as i am not aware of any law that are stopping users from earning a profit and there is no law prohibiting users from trading. Most government does not like their citizen having financial freedom as they wanted to control everyone but the amount of click bait news is a common theme in the market.

Not sure if it's true or not because one source alone is not enough to conclude that Russia really forbids it. Maybe only a few parties do not like Bitcoin being used by the Russia people for fear of shifting the existence of Fiat. Even though the adoption of cryptocurrencies in Russia is very significant when viewed from the number of crypto projects launched there. Once again there is a need for regulations that provide leeway for crypto users in Russia.

I guess they're a bit shaky and frightened about the bitcoin system. But inventions like Bitcoin has proven its potentials many times... I see no reason why they are still doubting it at this stage.

They arent doubting but rather than on being threatened because everything that do opposes governments centralization would always be a threat to them or they are focusing more on its con's rather than on seeing into its benefits which i cant really blame them off.

Each country does have their own jurisdiction or perception towards things and lets just accept and respect on what Russia government do really likes to do so.

As if theres something we can do? There's none actually.

The main reason for doing this is because Russia is worried about the volatility of the cryptocurrency and doesn’t want the people of Russia to experience any sort of losses. But on the contrary, it is like underestimating the power of their own people. Maybe they will understand the world of cryptocurrency and be able to make more profits than any other traders in the world. There is no harm in trying at least. Maybe with time, Russia will understand the growth and development of Crypto and will allow it soon.

If the reason is that they don't want the citizen to earn bitcoin, then that is a stupid reason.

There should be a bigger reason than that, it could be the risk that they can't and don't want to manage.
I'm afraid that Russia would treat bitcoin and crypto as a whole like China, I hope they won't impose a total ban.

Yes Russian citizen banned because a ban like this will only increase the number of people who do illegal things because who doesn't want to benefit in a way that can be said to be very easy and without the need for great energy for this. :o

I don't think this 'new' ban will effect russian citizens all that much. I have talked to a few russian programmers over the years who sell their stuff for crypto, and most of them don't care about bans at all. Most of the game hacks sold by russians are bought with BTC or monero.

Most probable reason must be taxation. Losing taxes against the revenue of individuals must be a big concern for most governments. After this tax reason, another big concern would be money laundering problems like non-traceable funds to terrorism. Hence, I am not ready to accept that benefiting out of crypto investment could be a concern for any government. Even they will not encourage, at least they will take a neutral stand against crypto investments and returns.

Most government may hate bitcoin mining as it may consume lots of power and also may impact on economy if more people started getting into mining business. When green energy alone being used then I guess this reason will become no more a concern.

If that will be the reason, then they should have found a way. It is supposed not their people will suffer from that as they are also looking for some sides hustle and crypto it gladly help them but with that prohibitive restrictions, it becomes unfortunate.

Once it was legal, it means that they are also paying taxes to the government. It wasn't be treated like that, although it was their right to impose strict regulations, they have also think the welfare of their citizens, not just their own interest.
They should have to be fair and let their people risk their money for crypto investment.

The government should always consider first the welfare of their citizens rather than their own interests. And knowing that crypto is now very popular in Russia and they can really make advantage on it if they wish, then if the government will support crypto, it will be beneficial not just for its citizens but for the whole country as well. And i think President Putin is never against with crypto as he sees it with high value. I know crypto has more chances to be adopted in Russia, maybe it just takes time.

For those who are techy or does have knowledge on how to deal up with online things they they wont really be finding this to be problematic but for those who do only know the basic stuffs
then for sure having these kind of restrictions would really be pain in the ass but honestly if they could really just able to find out the very basic of blockchain tech
then they could really utilize it and wont really be that easy for them to be traced if they do just follow the basics.

I think what we have here is certainly a FUD. Russia is very different from China so i don't think Russia will come up banning crypto just because they don't want their citizens to get involved in cryptos. How would that happen if the president alone is not taking crypto as against the government? President Putin has been more vocal that he certainly knows bitcoin that has a value so i don't think crypto will be banned. Instead, its adoption is more possible because crypto is now widespread in Russia and with the tax that the government can get from it, it will be a huge help to maintain the progress of Russia.

They won't impose a total ban. In mid of October Putin said that cryptocurrencies will play an important role, but that that doesn't mean he is the biggest fan of Bitcoin. Still, although Putin is dependent on mass surveillance and presidential power, he most likely won't decide the way the Chinese government did. I think he does have quite a different opinion about cryptocurrencies than the Chinese president has.

But the topic here obviously refers to earnings and that is the point: it would make taxation much harder (if not impossible to a certain degree) as has been stated before here. But how is he going to prevent people from accepting Bitcoin as a payment method while he does not intend to ban Bitcoin entirely? That is going to be an interesting law.

Capital flight, the same reason why China want's to ban everything related to crypto.

Their citizens are getting rich and where do they hide it? in crypto, and then they can travel around the globe exchange it to somewhere else other than their local. So the money except within their boundaries and the government can't do anything about it.

And maybe this the reason why Russia doesn't want their citizens to earn through crypto currencies because it will give them so much financial freedom.

Regulations that severely restrict citizens from developing and earning extra money. Russia has the same approach as China in banning cryptocurrencies. Should Russia legalize cryptocurrency and tax every Crypto transaction every month from every citizen, this is a better solution.

Once the citizens learn about how to acquire, manage, store securely, transact with bitcoin, it will be a difficult task for the government to prevent them from continuing doing so. However, the thing is that the vast majority of Russian people don't seem interested in cryptocurrencies, they show a clear unwillingness to learn more about it. Moreover, in order to access valuable resources where they can learn, such as this forum, they have to have at least basic technical knowledge regarding how to get through the wall of censorship. Yes, bitcointalk was blocked by Roskomnadzor a couple of years ago, which has resulted in almost zero activity from Russian newcomers. Unfortunately, censorship appears to be an effective way to hinder uneducated people from finding out how to deal with cryptocurrency and earning off of it.

But prosecution could also be an issue. Not many news seem to reach us from China about people being prosecuted for breaking the rules right now, but I think that the Chinese government is going to be extremely brutal if people violate the law in this case. But can they really control them all? I have no idea. I would say that Russia is not as strict as China? That would be my uneducated guess, but even if Russia bans it, I don't think it is going to be enforced as hard as it probably will be in China.

I hope it won't but much hoping that the president will appreciate the benefits of crypto to the life of his people and let it open to them. It somehow can be their source of living and many of us here are Russians, he can just be more considerate with that and spare those individuals who use and invest crypto as long as it is not used for any illegal activities.
Well, I don't have to imagine things that happen in China will also happen to Russia, I guess you were right.

Decisions and views could really changed up overtime because having lack of knowledge and realizations on whats crypto and how it works and made out immediate action without any consideration and later on there were change of minds because they have thought on something which did really changed up that mentality.

It could really happen but its not an assurance because if those presidents would have that kind of initial impression then it is most
likely to be final.

There's nothing we can do if they do have that kind of impression towards bitcoin or crypto as a whole.

Most countries are fighting hard to ensure their citizens stay as centralized as possible so the can monitor how funds move in and out of the country and how much each citizen has. With the high level of Artificial intelligence in Russia I was expecting them to be the frontiers of crypto currency adoption but it seems the reverse is the case. I just hope the don't join the business too late when it would be more complicated knowing how to start.