Crypto Ban: Russian Regulators do not want Legislators to Ban Crypto

[witcher_sense]

How will they succeed in banning crypto completely from Russia even if they try to! Many countries has also try to ban but people always find another alternative to engage in crypto activities, there are many crypto enthusiasts from Russia, many project team from that country, so I don't think it will be easy for them to ban crypto.

If they prohibit doing crypto business or restrict individuals from using cryptocurrencies, it may cause technological degradation for the whole country and significant growth of black/grey markets. I am not sure that is what government really wants. Consequenses may be disasterous. Tax revenue is decreasing, the budget is suffering, and funds are flowing out of the country.

[Sebas.tian]

They dont want to allow something so powerful that they couldnt control

You are right about this, but how will they think we will keep enslaving ourselves for their selfish behaviors? Though they don't want something they can't control good for the citizens. Even though they meant good for her citizens this should not be their motif for cryptocurrency. They shouldn't just ban the cryptocurrency for their gains but also give freedom to citizens to choose what they want to invest into. Although they can't even ban cryptocurrency except their jurisdiction.

[serjent05]

Russian regulators are wise enough to see the benefits in cryptocurrency that is why they wanted to control the market rather than banning it totally.  These regulators probably see that there is no gain in banning cryptocurrency because they will stop the flow of one of the government income sources.  Instead, controlling the cryptocurrency market will more likely to give them a higher yield because those who deal underground will at least be minimized.

They dont want to allow something so powerful that they couldnt control

Well, every government fears something that they can't control.

[reliable]

They dont want to allow something so powerful that they couldnt control

You are right about this, but how will they think we will keep enslaving ourselves for their selfish behaviors? Though they don't want something they can't control good for the citizens. Even though they meant good for her citizens this should not be their motif for cryptocurrency. They shouldn't just ban the cryptocurrency for their gains but also give freedom to citizens to choose what they want to invest into. Although they can't even ban cryptocurrency except their jurisdiction.

They need to understand that it can help many citizens to become self -reliant and do not always depended on the job. It can create millions of other opportunities and also would help the government indirectly through the taxes. Well banning is not going to be a solution to the problem but finding some practical solution in which people can invest or use crypto will lead to the win-win situation.