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Is it true that Russia wants to ban crypto? I read on news now that Russia bans cryptocurrency payments and their gov wants all Russian crypto owners to be identified, what is the real reason why Russia becided to make this move? full news below

https://www-ibtimes-com.cdn.ampproject.org/v/s/www.ibtimes.com/russia-bans-cryptocurrency-payments-wants-all-russian-crypto-owners-identified-2926298?amp_js_v=a2&amp_gsa=1&amp=1&usqp=mq331AQFKAGwASA%3D#aoh=15849243716286&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.ibtimes.com%2Frussia-bans-cryptocurrency-payments-wants-all-russian-crypto-owners-identified-2926298

Can't say if it's true or not, but i wouldn't be surprised.
Russia is totalitarian, meaning any crypto privacy is considered illegal by them.
Maybe some of our russian friends can confirm?

Any crypto fan from Russia on here to at least confirm if this is true or not? I will only believe this is bigger websites spread the news too for now it might be another fake news

But cointelegraph has not written about this about the banning of crypto in Russia, well we need clear information related to that because users in this forum are also many Russians who are active here, maybe in the next few comments there will be Russians knowing about this.

"Identified" that is to say, let go of privacy and anonymity. Well, if this is true then it's coming at a wrong time owing to the current nature of the market as well as the world now as it will only generate more panic. However, since prominent websites are yet to post anything on it, I will only but keep my fingers crossed while hoping for the best and sooner than later we will know the truth. Lastly, in all, it will not stop the crypto space from growing.

Maybe this is the policy of the government, where the current situation is still in an unstable economic condition. the policy was taken as possible to protect the country's economic system. That way it might be an alternative so that the economy remains stable and I don't think it will last long

If you are looking for the answer and this article may give you the best answer for what rusia is banning crypto again
https://www.livebitcoinnews.com/russia-looks-to-ban-crypto-this-coming-spring/

They are also worrying about this pandemic and the volatility of crypto. I think that makes sense. We will see that in the coming days whether this country will surely ban crypto or not.

I looked it up on some news sites and it’s strange that I didn’t find anything, which means it must be something that’s not confirmed and see that bitcoin related news sites love to publish rumors, but this time there’s no news about russia planning ban bitcoin


I believe the original source is this: https://www.interfax.ru/interview/699260

I already heard about this. if Russia will ban cryptocurrencies then this will be very bad news because the Russian community is very large and many people own a large amount of cryptocurrency. But I think that goverment will forget about this idea.

I think we should check some more reputable news sources first. Some days ago some people saying that Italy is going to adopt cryptocurrency for the coronavirus effect. Maybe what you are saying is true I don't know for sure. But as long as we can not find any reputable news source link we should not believe such news. I will consider it as false news as long as I can not find a trustable new site link.

This must be clarified from someone who's living in Russia and is following the crypto trend there. We can rely somehow from different sources like cointelegraph as they have reported it too.
But it's much better to know if someone residing on that country can give us an insight.

If someone from Russia who can clarify and bring information about this matter then it will be informative to everyone who wanted to get
concrete evidence with this so called banning from this country.
Insight who experience this banning first hand will clear everything up.

Well, if you are going to search google there are some articles writing about banning cryptocurrency in Russia. Just an example of this online article.

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Indeed, that is bad news but people there should follow the rules implemented by their government. The reason perhaps just because the numbers of cybercrime cases was increased include money laundering.

Russia is a communist country which runs on dictatorship. Their situation is somewhat similar to China where everything is government controlled. So I personally wouldn't be surprised if Russia suddenly decides to impose ban on cryptos.

The current legal status of cryptos is very confusing in Russia where mining is considered as entrepreneurial activity but banks are not allowed to serve crypto related businesses. So the incoming blanket ban wouldn't worsen the situation further.

This is the most reliable site that I could search and I think is legitimate.

https://www.forbes.com/sites/billybambrough/2020/03/21/blow-to-bitcoin-as-russia-moves-to-effectively-ban-crypto/#5e8981445c63

At least at some point, they understand that they cannot completely ban cryptocurrency being owned by people and neither they could punish them as stated in the article. We will see these effects in the coming days or maybe when the news gets more exposure.

I do not know if it is true about the russian news or not, but i do know that the world is focusing all its strenght to recovering from the pandemic, and healing the world and victims too.

So i doubt if any nation would actually have spare or extra time to discuss bitcoin nor crypto currency. At this point it is safe to avoid fud and not panic for any reason.
We are already staying safe indoors, don't add crypto panic to it.

Stay safe, and do your own research.

All these ban news isn't good for crypto at all. We need government approval on cryptocurrency not bans. I just hope this news isn't true. Russians in crypto will really find it hard to assimilate especially at this time the world is in a great crisis. It will be another devastation for them.

Read about their central bank that stated they cannot ban crypto because it's impossible.

The only thing they want to do is ban financial institutions from providing exchange services. A similar ban is functioning in China and people are still mining and transacting in private there. This ban doesnt change much for crypto and for crypto holders in Russia. They will still be able to use exchanges and exchange BTC to foreign currencies.

haha, i dont think that russian people will stop using crypto because according to data, russian is the most popular country that using bitcoin or any altcoin for their services or illegal services, and to be honest.. popular crypto telegram scammers is from russian which they have 1001 way to scam people in telegram.

even they gov ask for identification, that cant stop russian people from using bitcoin or other altcoin

From some articles I read, it seems that Russia does not completely prohibit the circulation of cryptocurrency in their countries, but Russia is currently launching a special regulation called offshore Russia and it is a tax regulation that also includes cryptocurrency for Russian citizens and I think it is a not form a ban on Russian citizens to be able to have cryptocurrency as their asset.
But indeed now is not the right time for a country to discuss cryptocurrency because there are more important things to be resolved immediately as the spread and impact of the outbreak of virus covid-19 have expanded, and we can see in Italy today,  thousands of victims have died, and in fact, almost tens of thousands are infected and it is truly terrible...!! :'( :'(

According to this news crypto is ban in russia but i didn't see this kind of news in coin-telegraph or coindesk. Maybe it's a fake news because if russia ban crypto then we can see many news in giant crypto news sites.But unfortunately we didn't see this kind of news any others news sites only this sites saying that crypto is ban in russia and it's really hard to believe this news by reading one article from unknown source. 

I think it is not a ban rather government wants to know who is holding how much and which coins, this is natural and i think all govts around the world want to have this data as they will be more in control and will be able to check and track transactions and also tax them.

No offence but i strongly doubt the authenticity of this message saying that Russsia has ban crypto. I have been on the news all throughout this week and have not heard anything of such. Also, none of the major news outlets like Coindesk, Cointelegraph, Cryptocurrency news have not made any announcement about it. This is a big news and i believe if it were true these news platforms would have aired it long time ago. The russians in here can rest in peace because i don't think this is true.

It's what I've just literally said.  :D

And you should read the latest news about that because it's clearly stated that if the rusia government wants its people avoid to use crypto caused by the government was thinking about the volatility and manipulation in the cryptocurrency can make its civilians being trapped and they are also giving awareness about that. I think that if it's not about to know who is holding crypto.

That is right, anyone can hold crypto even if it is banned in their country but the problem is they will hardly sell it on the exchange since most likely are having KYC verifications. That was the insight of their government about crypto and we have nothing to do by that just to follow what is the rules or else you might put in jail. They are just like country of China, maybe, later on, they will realize how Bitcoin and the blockchain important to us.

I think the article is only adding confusion, as the government said before they want to regulate the influx of cryptocurrency in russia infact there is a bill that was made already but it remains hanging, one thing is for sure the Russian Central Bank is againts the proliferation of the cryptocurrency in Russia and they already admit it, its better to wait for the official announcement from the russian government to prevent speculation.

Yeah after I've read it I felt that nothing is clear about crypto in russia and they are not sure what to do by themselves.
some medium quality resource is trying to hype on big news, not a big deal

I haven't heard of such news because there is no such update that Russia is already up into banning cryptocurrency use in their country. I do not think that this will be good to be true because there are still a lot of problem our world is facing right now specially it is still related into the pandemic covid-19. I think that it was just a here say to hype up the news and was not yet proven to be true because if that is true, then it must be published and get notified by cointelegraph but I have not heard and read of anything about it yet so maybe the news is not that accurate enough or maybe it was not yet clarified. If that will ever be true, then it will be a great loss because knowing Russia to be a big country, for sure there are lots of people using cryptocurrencies in there. But for us to be able to get through this, maybe a Russian member in this forum would help to confirm if the article is true or not.

Because everyone is complaining about OP's article, here is another one... https://cointelegraph.com/news/russias-central-bank-seeks-to-ban-crypto-issuance-and-circulation

I'm not even 1% surprised about it and I wouldn't be surprised at all if other countries followed. We all know what govs think about us using Bitcoin :D However, apparently you cannot trade or make transactions but you are legally allowed to hold your cryptocurrencies without using them.

It is not suprising that there are some countries who wants to banned bitcoin because everyone wants to have bitcoin as their investment, and they are also afraid of bitcoin because it is being used in illegal activities such as fraud, scams and money laundering. But the truth is even bitcoin is being used in illegal activities it can be helpful in the economy of a country that it can give other people some extra source of income.

Until now, I have not confirmed whether this is accurate or fake news. It doesn't seem to be so important in this market, no matter how many bans there are, the market will still have a way to grow. The issue we should be concerned with is how the global economic situation can recover and grow

I hope this issue is not true and Russia does not ban Crypto . Companies / projects of many originated from Russia with the largest community of Cryptocurrency. a few weeks ago India and South Korea had legalized Crypto in their respective countries. I hope Russia can learn or observe how Crypto runs in the two countries , then take a stand to adopt Crypto ...

I'm not sure about this article it was not loading the page completely also I cant think why Russia is going to banned the cryptocurrency in their country, maybe because this juts want to regulate the cryptocurrency and strengthen their fiat money in their country.

Still I didn't find in any article that Russia already banned bitcoin, still they will still looking at it but they are already planning to do it. In some article I read that Russia was afraid that banks are not able to regulate the cryptocurrency in their country since I think their are a lot of cryptocurrency investors in Russia.

Not sure it is real or not but totally ineffective decision at the moment because corona is already creating panic all around the world,people are moving to safe investments from stocks since its crashing so people will choose to invest on cryptos even if its banned if the prices starts to be bullish in the near future.

If this is true then this will not take effect as long as there are no laws prohibiting cryptocurrencies in Russia.

Also Bitcoin is a big threat in financial industry worldwide and the government cannot do anything to stop and control it other than verification.

Seems not bad though, since the support for the cryptocurrency is still there the government made it just regulated by putting down a tax into it. Although a troublesome but let us just think on the other hand that it was a little contribution (by law) from getting the privilege of being allowed to use cryptocurrency, citizens from their should still be thankful 'cause they didn't end up getting to a point of total banning, because that would totally be sad.

Agree, buddy. But we can't let this little new be passed out without noticing. Everybody is busy taking care of Corona Virus but that doesn't mean we should let the attention be all out in it. As there were things out there that needs an attention even a little. I don't mean that we shouldn't pay attention to virus either, what I mean is that remember that there still stuff that we do before the virus came up.

We should not blindly believe about crypto ban news because already heard them many times but that was only rumors.
China has several news about banning crypto, but now they still using crypto.
I think the news is to create some fud so the price of crypto hopefully can drop.

yeah it sucks, but why do we care again?
I mean their govs has somewhat influence on other countries, but overall I don't think that russia has big part of overall crypto market cap, so we shouldn't be bummed out

I care because if this becomes a trend countries follow, yours could be next and you'd be directly affected by it so would the prices of cryptocurrencies. It shows and proves me how scared they are of us at the same time though :D

I don’t know if they did, but if that’s true, there is no way that they can identify cryptocurrency users, if there is , then I am not aware of that. They can only be able to stop cryptocurrency exchanges by issuing out orders to their banks to not offer services to cryptocurrency exchanges. Without banks there is no way that cryptocurrency exchanges will be able to function.

Most people prefer to make use of centralized exchanges and when there are no centralized exchanges they will lose interest and stop trading cryptocurrency. But, there are people who are die hard and will continue to buy and sell cryptocurrency through decentralized exchanges; those are the people you can’t stop.

Cyprotalk is a forum that managed by Yobit and the administrators are mostly Russian, so if they are going to be hard on Crypto supporters Yobit and Cryptotalk are two of the websites that will have problems with authorities so let's see how are Yobit going to deal with this scenario.

There is another down fall in the market if this news is true. Many Russians using cryptocurrencies I don't think if they can accept that they will never use crypto. Well let's hope this is fake news because you know many fake news in social media.

Don't always fully trust information from Russia because there has always been a conflicting report about Cryptocurrency regulations. This information will take another journalism by tomorrow, maybe reporters always misinterpret the Russian top officials.

The issue with Russia is that one do not really know where they stand when it comes to Crypto, I think they are looking at it and saying it has advantages but also there are disadvantages to the Government also because Government never wants to lose the control of their monetary system, this more of a dilemma for them I think

I don't even think if that will happen again. I remember when yobit gets an accusation that comes from the lawyer in russia but it's still operated. That means what has already taken by russia ministry can't be considered as a real thing. there are so many uncertainties with it.

All we have to do is to wait for the confirmation coming from those active members here  who also residing from Russia, they're the one who can verify the legitacy of this news, though there are already concerned from this country which is not really in adoption period for this industry, let's see if how this information will be verified and what will be the impact from the entire network.

I don't think this news is true not even this time that every country is trying to safeguard it's citizens from the pandemic. Russia ban wont stop  crypto operation. This is exactly why people prefer cryptocurency because of the anonymity but once that is removed the we are back to base.

You can try to ban crypto in any nation as much as you want, it will not be "banned" like the other illegal stuff. When you kill someone you do something illegal and you get caught, the proof that you killed someone is literally that person being dead, when you steal from someone they no longer have that money and you do, that is the proof.

When you use bitcoin, there is nothing illegal going on aside from using a currency not allowed, that is not provable as long as you do not spend it on something that can be proven, you can buy and hold without any proof, any trace and you can continue to live like that until it becomes legal. So long story short, bitcoin can't be banned, it can't be stopped, it can never be "illegal" like the other stuff, it can only be "frowned upon" at most.

Is this news true? For the past few weeks I haven't seen any such news from the official websites talking about crypto, if Russia banned crypto then I think we would lose a large number of investors and many big projects in this market

This is a communist country they want to control anything that can threaten their system, this is not new to the communist type of countries, they always find ways to control their people and to protect their system, but the Crypto community in Russia are flexible they can always find a way and compromise, to protect their interest, the Crypto community in Russia can become a big threat to them if they become hard on them.

Almost all news from Russia about cryptocurrencies is attempts by their authorities to either ban it up to criminal prosecution, or to implement total supervision and full regulation.
What did you expect from a country where the same KGB agent has been in presedency for 20 years?

They say one thing and think another. I will remind you that these guys are still trying to block telegram and sometimes the next mass ip bans leads to the fall of a bunch of ru-services that are hosted on Amazon ip

banning crypto currencies will be difficult, Russia has told the media if they will ban crypto currencies, and in fact crypto currencies are truly decentralized, crypto currencies cannot be banned, only rules can limit them

Yes, crypto operations will not be stopped in general, only when some countries make restrictions not to leave the house and may not sit in groups, then indirectly our working conditions have begun to be slightly disturbed by these rules.

there is info about Japan banning foreign exchanges on their territory for japan citizens.
every month there will be bad news , but we all need to believe that govs of countries will eventually make the right decision

It is natural that Japan prohibits the exchange of foreign currencies in their territory for Japanese citizens, because their government has the authority to do so and Japan is a developed country and has many advanced technologies that are not owned by other countries, so it is very reasonable even though there is influence for something else.

I did not hear such type of news from any authentic media or Russian person. If this is true then this is really bad news for all crypto lovers specially for Russian people. I will request please first confirm then share the news about Crypto as you all know Crypto market totally depends on Good and bad news.

Can you give me a link about this ban? I have searched a few pages but have yet to find any news related to it. And even the market has not been affected by this news if it is true. Japan is a big country for cryptocurrencies, if they really ban it, then this market will surely collapse

I am less convinced by the news you post because Russia is a country that is very supportive of the crypto world and this can be seen from the illegality of crypto in the country and if this news is true then they must have a reason for themselves in Make this decision, perhaps the Russian state is being less stable in terms of economics so that they prohibit crypto for now, but I am still unsure of this decision.