Russia officially allows Bitcoin

[davis196]

Russia has always been one of the most hostile regimes towards Bitcoin. There were drafts proposing to criminalize the use of Bitcoin with a penalty of up to 3-5M Russian rubles (over $50,000) or even with a term in prison. But just a few days ago the last such proposal was scrapped, and it seems that the authorities are no longer trying to turn Bitcoin users into criminals.

In July the Russian Ministry of Finance had stated that it intended to allow citizens to buy cryptocurrency for the purpose of reselling, exchanging, and using beyond Russia. At the same time, the same proposal suggested banning Bitcoin mining since it was considered as issuance of currency. And just a month later Alexei Moiseyev, Russia’s deputy minister of finance says that the ministry (which has long tried to pass a bill to ban digital currencies altogether) denounces any direct ban of Bitcoin.

So it looks like the last unassailable fortress standing between Bitcoin and its universal recognition across the world is about to collapse

If this is true,this is really good news.

Hope that this will have some impact over the bticoin price.

Maybe bitcoin mining will be profitable in Russia as well.

[densuj]

If this is happen, i think will there is impact on bitcoin's price usualy the price will going up, because the people of Russia can buy bitcoin with feel free and not be considered as criminal by the government.

[btvGainer]

Interesting. Is there any source for this? I wonder why they suddenly changed their opinion regarding Bitcoin. Maybe they just don't want to waste time trying to regulate it?

I think they are acting on maxim "If you can't beat them,join them".With growing number of bitcoin users and benefits of blockchain,it would be difficult for any nation to ignore or ban bitcoin

[hero1111]

If this news is true it is so good for bitcoin and i think this will be strong simple for other countries because Rurssia economy is big and they have  big popilation , when we think those it will be so good for bitcoin.

[boybugs18]

russian hackers would feel happy about this as they are like being ease by the government 

[isvicre]

Surprisingly a smart decision,  I thought as the ruble drops they will go further into hardline stance but no they've admitted they were wrong and fixed it.

[delliaerd]

If this news is true it is so good for bitcoin and i think this will be strong simple for other countries because Rurssia economy is big and they have  big popilation , when we think those it will be so good for bitcoin.

bitcoin will be more great when that news really happen. because russia is one of the biggest population user of bitcoin it means bitcoin more growing in russia that officially allows bitcoin as well

[PremiumCodeX]

I knew that in spite of the questionable relation between Russian and the USA, many powerful Russian organizations were keeping much of their money in USD and it was what they used for daily transactions, especially at international transactions. Now, they appreciate a decentralized, alternative currency too, which will be advantageous for us, Bitcoin holders and a smart gesture from Russian politicians.

[deisik]

I think Russia is having a brain seizure trying to deal with Bitcoin. I remember so many news across the years of Bitcoin being banned in Russia, or Putin threatening people to put them into jail for owning Bitcoin, and then I remember a lot of news of "Ban of on Bitcoin lifted". It's like a ping pong match of banned and not banned. Russia just doesn't know how to react to Bitcoin. Pretty funny actually.

In fact, Putin never said anything which could be construed as a threat to put peeps into jail for using Bitcoin. He's no beater about the bush, and you would almost certainly have got to know if someone had been imprisoned for owning or using Bitcoin in Russia...

What he actually said is this:

Oни ничeм нe oбecпeчeны, эти дeньги, вoт в чeм вce дeлo, этo caмaя глaвнaя пpoблeмa. Oни ни к чeмy peaльнo нe пpивязaны и ничeм нe oбecпeчeны. Ho в цeлoм, кaк eдиницa pacчeтa, кaк oни тaм нaзывaютcя, «кoины», ими мoжнo пoльзoвaтьcя, oни вce шиpe и шиpe pacпpocтpaняютcя. Кaк кaкoй-тo эквивaлeнт в кaкиx-тo ceгмeнтax pacчeтa, нaвepнoe, вoзмoжнo

The major issue with this money is that it is backed up by nothing, and that's the heart of the matter. It is not linked to or backed up by anything. Nevertheless, these "coins", or what's their name, can be used as a unit of account since they are gaining ever wider recognition. It seems that they might be used as a sort of money substitute for settling certain accounts

It looks like Putin is severely uninformed that fiat money (including the Russian Ruble) is essentially not backed up by anything either

[bitcointank]

Unbelievable news, Russia and China are very hostile against bitcoin, because they are both communism(shitty) countries.

Fortunately Russia is open to bitcoin and embrace bitcoin again. Now next one, let's hope is China, it will help bitcoin boost the price.

[secdark]

If this news is true it is so good for bitcoin and i think this will be strong simple for other countries because Rurssia economy is big and they have  big popilation , when we think those it will be so good for bitcoin.

bitcoin will be more great when that news really happen. because russia is one of the biggest population user of bitcoin it means bitcoin more growing in russia that officially allows bitcoin as well

yeah russia was one of the highest user of the bitcoin in the world and lets hope that all of the country will allow bitcoins in their country so that there are lott of users in bitcoin in the world and the demand of it would be high also in its price

[greatr]

russian hackers would feel happy about this as they are like being ease by the government 

though it is good for the whole country as there will be less rage as bitcoins were banned and right now it is ok to use it every day

[salmanahmedone]

Russia has always been one of the most hostile regimes towards Bitcoin. There were drafts proposing to criminalize the use of Bitcoin with a penalty of up to 3-5M Russian rubles (over $50,000) or even with a term in prison. But just a few days ago the last such proposal was scrapped, and it seems that the authorities are no longer trying to turn Bitcoin users into criminals.

In July the Russian Ministry of Finance had stated that it intended to allow citizens to buy cryptocurrency for the purpose of reselling, exchanging, and using beyond Russia. At the same time, the same proposal suggested banning Bitcoin mining since it was considered as issuance of currency. And just a month later Alexei Moiseyev, Russia’s deputy minister of finance says that the ministry (which has long tried to pass a bill to ban digital currencies altogether) denounces any direct ban of Bitcoin.

So it looks like the last unassailable fortress standing between Bitcoin and its universal recognition across the world is about to collapse

If this is true,this is really good news.

Hope that this will have some impact over the bticoin price.

Maybe bitcoin mining will be profitable in Russia as well.

Yes it is good for bitcoin too. More nations will follow this and soon we see bitcoins being accepted everywhere.  As far as minning is concerned, it depends upon the electricity cost in Russia. If the Cost is low, then surely mining will be profitable.

[chixka000]

Its a huge population, likely we will see an increase in volume from now on

Hopefully that it can have a great effect for us bitcoin users. I mining ground in russia what do you think sir? i believe that miners in russia will surely grow so fast without further notice.

[mindrust]

So that was the reason of this recent mega pump. It is a good thing for bitcoin and crypto in general indeed. I hope the other countries follow the same steps as Russia and bitcoin will shine as the world currency.

[X-ray]

So that was the reason of this recent mega pump. It is a good thing for bitcoin and crypto in general indeed. I hope the other countries follow the same steps as Russia and bitcoin will shine as the world currency.

yeah i think this was the factor why the price rising up immediatelly since i guess there's so many people in russia are just getting involved in bitcoin and use bitcoin as daily basis,i just see so many altcoin devs are from russia so i can assume like that,such a good thing indeed

[Mumbeeptind1963]

If it is true, it is nice so that many people in russia can use it legally, not like before that if you caught using it they can bring you in jail. And it is good to bitcoin community, it can cause price pump in bitcoin and many russian people can earn now legally.

[boyptc]

Unbelievable news, Russia and China are very hostile against bitcoin, because they are both communism(shitty) countries.

Fortunately Russia is open to bitcoin and embrace bitcoin again. Now next one, let's hope is China, it will help bitcoin boost the price.

And we all know that they are both greedy countries. So maybe Russia just seen that bitcoin has a great potential to gain some government funds if
they are going to accept it to their country. I knew it at first that Russia is prohibiting bitcoin and well the world is round everything can change
with a few of Earth's spin.

[HI-TEC99]

It's good news that Russia now officially allows Bitcoin, but most Russians didn't seem to care if it was banned or not. Yobit exchange is run by Russians, and its never looked like it was going to close because of threats Russia might ban Bitcoin. It's got an option to view the site in Russian, so it must have plenty of Russian users who were never afraid of a Bitcoin ban.

[BlackPanda]

If true then this would be a pleasant news. with the acceptance of bitcoin in countries such as Russia, the movement and deployment of bitcoin will be more extensive. the population of Russia is very much going to give a positive impact.