[2016-07-19] Russia to Treat Bitcoin as Foreign Currency

[tyz]

Russia to Treat Bitcoin as Foreign Currency

The status of Bitcoin in Russia has been up in the air for quite some time now. There only seems to be two courses of action: either Bitcoin would be banned, or it would be allowed. But perhaps there is a third option on the table, as authorities want to label Bitcoin as “foreign currency”.

http://www.newsbtc.com/2016/07/19/russia-treat-bitcoin-foreign-currency/

[richardsNY]

Russia has been changing from standpoint to standpoint regarding Bitcoin quite often. It seems to me that they are not sure what they are going to do with Bitcoin themselves. One political party agrees with forcing through a total ban, while the other seems to somewhat be interested in its potential. I think this will continue for some more years.

[DAOstock]

All will be decided by the President, and better dont mess with Vladimir Putin!

[Ned Kelly]

to label Bitcoin as “foreign currency”.

It's much better than to treat it as commodity. You do not have to pay VAT on it in this case.

[Hazir]

Russian legislation is known to be very 'loose'. So treating bitcoin as foreign currency and create a law that actually could be obeyed for once will be the best solution for them.
Anyway we don't have to worry about them banning bitcoin. They wouldn't be able to enforce that law and they know it.
In case they will be foolish enough to do it bitcoin business will move away to Eastern Europe instead.
Or continue to operate under cover. It is no big deal for Russian entrepreneurs.

[Ned Kelly]

Anyway we don't have to worry about them banning bitcoin. They wouldn't be able to enforce that law and they know it.

Should not be so difficult at least in theory. Just send getaddr to all bitcoin nodes, get responses, filter russian IPs, send a KGB fast response units, put node operators in jail and job done.

By the way it could be done in any jurisdiction.

[snipie]

KGB
put node operators in jail and job done.

KGB* don't have too much time to look through this, i read in an article that even the police/interior minister (not sure who said that) is pissed off and they said they don't have a time to catch the bitcoin users instead of catching the criminals   

[Ned Kelly]

KGB
put node operators in jail and job done.

KGB* don't have too much time to look through this, i read in an article that even the police/interior minister (not sure who said that) is pissed off and they said they don't have a time to catch the bitcoin users instead of catching the criminals   

Should not be so difficult at least in theory.