Bitcoin Forum
September 23, 2018, 04:59:09 PM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [2017-07-08] Russian Politician Proposes Central Bank Follow Japan’s Lead to Leg  (Read 4509 times)
ivanpoldark
Sr. Member
****
Offline Offline

Activity: 672
Merit: 250


https://modltoken.io/


View Profile
July 08, 2017, 12:04:55 PM
 #1

The Central Bank of Russia has been asked to follow Japan’s example on legalizing bitcoin by a prominent Russian politician.

Russian Central Bank Learns About the Japanese Model

Boris Titov is a Russian politician and the Presidential Commissioner for Entrepreneurs’ Rights. In a letter to the head of the Russian Central Bank Elvira Nabiullina, he proposed that the bank follows the Japanese model in regulating digital currencies like bitcoin and ether, reported the Russian business daily Vedomosti on Friday.

Titov pointed out that Japan has recognized digital currency as a means of payment, not as money. He then outlined three outcomes of the Japanese regulations applicable to Russia.

Firstly, cryptocurrency exchanges are now regulated in Japan. They are required to register with the government as well as implement strict anti-money laundering (AML) and know your customer (KYC) measures. For example, they must regularly monitor and report any suspicious activities to the authorities, Titov explained.

Secondly, he noted that the regulations are imposed on the management of assets, and the exchanges are subject to regular audit by the financial authorities. This is to protect cryptocurrency-using customers. “Japan has also introduced procedures for dealing with claims,” he added.

Thirdly, he conveyed that Japan has removed VAT on purchases and sales of digital currency but not VAT on purchases. However, he noted that the Japanese National Tax Agency has not yet clarified how to deal with income tax or corporate tax levied on digital currency transactions.

Read more
https://news.bitcoin.com/russian-politician-central-bank-japan-legalize-bitcoin/

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537721949
Hero Member
*
Offline Offline

Posts: 1537721949

View Profile Personal Message (Offline)

Ignore
1537721949
Reply with quote  #2

1537721949
Report to moderator
1537721949
Hero Member
*
Offline Offline

Posts: 1537721949

View Profile Personal Message (Offline)

Ignore
1537721949
Reply with quote  #2

1537721949
Report to moderator
1537721949
Hero Member
*
Offline Offline

Posts: 1537721949

View Profile Personal Message (Offline)

Ignore
1537721949
Reply with quote  #2

1537721949
Report to moderator
Vishnu.Reang
Sr. Member
****
Offline Offline

Activity: 518
Merit: 250


First crypto exchange Islamic Crypto Exchange


View Profile WWW
July 08, 2017, 02:30:43 PM
 #2

If Russia legalizes Bitcoin, then it will be huge. Historically, Russia has been one of the most important outposts, as far as BTC is concerned. Even now, a large part of the Bitcoin-based ventures (exchanges, gambling sites, investment markets) are based in Russia and the other Russian-speaking countries (such as Moldova and Ukraine).


````````````````█████`█`███`██`██
```````````██`█``████████████████`█`██
````````███`███████``███`███``███████`███
``````█████████``██```````````███`██████`██
````██``███``██````````````````````█``████`██
```██`███`██`````````````````````````██`███`██
``██`██████````````````````````````````█████`██
`██`███``█`````````````````````````````██``██`██
`██`█████```````````````````````````````█████`██
`██`██`█````````````````````````````````██`███`██
`██`█████````````██`````██``````````````█████`██
`██`███``█```````██````███````██```````██``██`██
``██`██████````█████`███████``███``````█████`██
```██`███`██``███████``██████`████````██``██`██
````██–`███``███`██``███████``██████``████`██
``````██`██████``████████████████`██████`██
````````███`███████``███`███``███████``██
```````````██```█████████████████```██
```````````````███████``███`██`██
ADAB
Solutions

█▀▀▀▀▀▀█
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█▄▄▄▄▄▄█

█▀▀▀▀▀▀█
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█      █
█ █▀▀▀ █
█ ▄▄▄█ █
█▄▄▄▄▄▄█
● Facebook
●Twitter    
●Telegram   
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!