Russia and central Bank agreed to legalize cryptocurrency as a form of currency

[zasad@]

Don't think Russia will ban Bitcoin or cryptocurrency where the USA allows it. Russia always tries to stay more advanced than USA and USA wants to do the same as well. So I believe Russia isn't stupid like China. If they ban cryptocurrency then Russia won't be stronger than the USA in the crypto economy. So I believe the decision will come positively which will allow citizens to use cryptocurrency legally.

According to various estimates, out of 145 million people in Russia, about 20 million people use or have used cryptocurrencies. If a law comes out that forbids this, then this will be another law that no one will fulfill.The population does not trust banks and keeps their savings in dollars. Cryptocurrency in Russia will be very popular.

[ultrloa]

All these statements from Russia regarding the possible legalization of cryptocurrency, although encouraging, are still only words. And we have already heard a lot of contradictory words from Russian officials of various kinds about cryptocurrency in recent years. They think one thing, say another, and do a third. Therefore, it is necessary to wait for the adoption of specific laws. And the laws regarding cryptocurrency in Russia are still among the worst in the world.

They probably studying and see now the impact of cryptocurrencies and how they can benefit from it thru tax as well convenience in making transactions. Now that many coubtries like USA, Japan and Singapore allows it and implemented it there possibly ways that they can gain more by using it. Russia is smart enough to implement it with ways they know their government will benefit.

This is another source of income to their government if they adopt it and this is really smart move made by them knowing how huge they can possible collected om their citizens. The one we need to see right now is how huge the percentage they take to their citizen since if they follow what India did maybe this one will not give them positive result and this could create confusion about why they implement that rulings.