The Putin Effect

[CryptoBry]

Just announced hours ago, the Russian government would be allowing Bitcoin along with other coins to gains some legal status under a strict regulation to be implemented by the government. This comes after the bad news from China. And we are hoping that the market can be reacting positively with this development as Russia is also a big country with a big potential to be a major player in the cryptocurrency market similar to Japan and South Korea.

Let's see how the Putin Effect can influence the movement of Bitcoin from here on. I am sure that this will indeed be a very welcome development. Do you think Russia has the influence to fill the void left by China, for now?

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[Pab]

First China didnt leave crypto and Russia,only selected investors will be permited to trade crypto.Putin and Co is only interested in money laundering,look what is happening with russians ico's

[BrewMaster]

even since Japan regulated bitcoin, Russia changed their long stance about bitcoin and have been planning on regulating it the same way. this is a good news and it will continue happening with all the rest of the countries sooner or later.

the government can never ever ban bitcoin so they have to regulate it in order to manage its usage better, and probably tax it easier like what IRS has been doing for years.

[hatshepsut93]

Russia is hopping back and forth between banning crypto and embracing it, for me it even looks like an attempt to manipulate the market, although it seems to be not as successful as the classic "China bans Bitcoin". Don't trust what Russia says, they can always change their mind, and for now they are just waiting and trying to figure out how to benefit from crypto in the best way. Also, if you read you news from some sites, it's very likely that they are nor fresh and are already priced in, whales have much better sources and make their moves before the public hears about it.

[BingoDog]

First China didnt leave crypto and Russia,only selected investors will be permited to trade crypto.Putin and Co is only interested in money laundering,look what is happening with russians ico's

Yeah, that smells like money laundering. Anyway, you can never now with Russia, it's like they can't decide whether they want to ban the bitcoin or to allow and regulate it. But it's for sure there is always some kind of game behind and definetely something that russian government will have use of.