[2015-12-07] Russia Bitcoin is the Biggest Financial Breakthrough in Fifty Years

[adonai]

Former Deputy Minister for Finance of Russia: Bitcoin is the Biggest Financial Breakthrough in Fifty Years


Alexei Savatyugin, former deputy minister for finance of Russia called cryptocurrency the biggest financial and economic breakthrough in last fifty years. He stated that in an interview to publication The Banker. In addition, he noted that there were not many revolutions of that kind in the history of the civilization.

According to Savatyugin, banning Bitcoin in Russia would result only in freezing yet another market. Non-acceptance of cryptocurrency, to his reckoning, is related exclusively to the regulator’s reluctance to puzzle out what bitcoin and the blockchain are, how they work, and how it could regulate the innovative phenomena.

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[NanoPipe]

Adopting bitcoin in Russia is for the best interest in its banking system and its people. There are sanctions again Russian banks and financial system by the West. Bitcoin can help it break the sanction.

[Denker]

Adopting bitcoin in Russia is for the best interest in its banking system and its people. There are sanctions again Russian banks and financial system by the West. Bitcoin can help it break the sanction.

Yes but Russia has already banned Bitcoin and furthermore it's threaten the people with jail.
It's great to see that a former russian minister sees the potential of BITCOIN (not that blockchain only thing) but the goverment is having a completely opposite opinion at the moment.
This is however will not reduce Bitcoin adoption in russia.When shit hits the fan people will rush into Bitcoin there as well no doubt.

[Kprawn]

Let's just highlight this part --> former deputy minister for finance <-- not the current minister of finance. They do not have any influence on the direction the economic policy will go regarding Bitcoin and

regulation.
 
The decisions will also be made on a higher level, and the finance minister will just be the rubber stamp. In my country the new broom usually want to sweep everything clean, and they implement something

different than what the previous minister did during his service. Anton Siluanov will make up his own policy regarding Bitcoin and it's status.

[RealBitcoin]

Former Deputy Minister for Finance of Russia: Bitcoin is the Biggest Financial Breakthrough in Fifty Years

Then why are they trying to ban it?

They are flip flopping , first they say its ok, then they want to fine people, then they want to jail people for 4 years, now they say it's ok again?


It must be some horrible bureocratic struggle going on there.