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Author Topic: Russia will regulate cryptourrencies  (Read 3033 times)
etraderhart
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October 12, 2017, 12:21:15 PM
 #1

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies
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October 12, 2017, 01:21:07 PM
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Putin has aways been interested in Bitcoin. Ever since it went mainstream, he knew Russia would be amongst the top countries in the crypto community.
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October 12, 2017, 02:04:55 PM
 #3

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

So finally it will be all clear that bitcoin will be going to be legal in Russia after the series of dispute. Soon China in which Russia's best friend which is also a longest ally will also do the same and lift the ban for good then after this i believed bitcoin value will going to be more stronger than ever in the history because all the super power nations are supporting bitcoin.

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October 12, 2017, 02:18:42 PM
 #4

I think we will have to wait to see how laws are specified but I think this is positive news for us. It shows governments are understanding they cannot turn their backs on what is happening with the crypto world, not because of altruism to us, users, but because they are losing income and power.

Good thing is that cryptos like btc can be subjected to legality but they cannot control them as they wish.

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October 12, 2017, 02:50:10 PM
 #5

So finally it will be all clear that bitcoin will be going to be legal in Russia after the series of dispute. Soon China in which Russia's best friend which is also a longest ally will also do the same and lift the ban for good then after this i believed bitcoin value will going to be more stronger than ever in the history because all the super power nations are supporting bitcoin.

Agree with you.
Bitcoin will be legal in Russia.
Also I can say that Russia will be country 1 who support cryptocurrency.
If they will create plant of mining farm..

                             
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October 12, 2017, 02:51:14 PM
 #6

It makes sense - for them to hedge against the current system and create their own system which they can operate in independent of the financial world

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October 12, 2017, 08:41:02 PM
 #7

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

I think this a good news for the Bitcoin community as the President itself now recognize the cryptocurrencies as a big thing, and they will able to discuss the ins and outs of it instead of banning the cryptocurrency exchanges in their country, what a good governance indeed.

I just read different rumors that Russia is banning Bitcoin but again it is an another FUD attempt by the people who really hates Bitcoin and those people that are so gullible enough to believe in these issues without a strong proof or any other kind of reliable claims.

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October 12, 2017, 11:23:31 PM
 #8

The government has the obligation to its people, regulation is intended to secure and protect the interest of the state. Since this is a matter of law, let us wait for the drafting and releasing of it before than being worried about this statements.

Rumors about banning should not be entertained or may not have an effect at all, 5300$ price of bitcoin can’t be reached if we have all weak hands, in short we learned already that whatever comments bad or good we just have to stay and hold then Trust bitcoin.
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October 13, 2017, 12:32:15 AM
 #9

If is the only way to legalize bitcoin there. Why not? Besides, other countries are already regulating bitcoin. China, Japan and others are regulating their local exchanges. Im sure if they regulate this. This will the boost for the progress of bitcoin in Russia because there will be no more hindrances on adoption since government will going to regulate it. Russia wants to compete with market leaders on cryptocurrencies. The President is optimistic about cryptocurrencies. I'll wait for the next steps of Russia. Im seeing Russia will be a powerhouse of bitcoin.



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October 13, 2017, 01:37:11 AM
 #10

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies
This is confusing, i read an article like yesterday states that Putin criticize bitcoin and other cryptocurrencies and now here is the article stating that Putin is open on cryptocurrencies, I do not know what is the real news now. Anyway, if this turns out to be true then Russia knows that they can builda big mining facility specially with their low electricity rate. Regulation is indeed what Government at least can do with cryptocurrency to monitor the possible illegal activities and also SCAM Icos.

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October 13, 2017, 02:43:40 AM
 #11

They want to regulate mining? they planned this for years, I doubt it to be a new strategy. all they can do is to centralize Eth mining by regulating it

But good luck with regulating Bitcoin mining, most Btc farms are in China where Putin has no power. if people start going underground to mine altcoins

Governments will have a new problem. they might record the shipment manifests to see the destinations of GPUs. if you are buying them better to ship

Them some where else and pick them up yourself.
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October 13, 2017, 03:25:12 AM
 #12

It's a good news , I can see why bitcoin value escalate so fast recently.
I can feel that bitcoin is in good phenomena because it want reach another fork just like BCH before , people are owning bitcoin as much possible and afterward we can see massive dump !

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October 13, 2017, 03:58:14 AM
 #13

It's a good news , I can see why bitcoin value escalate so fast recently.
I can feel that bitcoin is in good phenomena because it want reach another fork just like BCH before , people are owning bitcoin as much possible and afterward we can see massive dump !
Massive dump like the last massive dump? people wouldn't dump mate. Russia regulating mining has nothing to do with Bitcoin forks, Bitcoin gold fork

Has nothing to do with the price, investors are trying to get a head of the future. there is a reason for Bitcoin to fork, upgrading the code and improving

Last upgrade or soft fork had good impact on the performance. I'm not buying for gold. I'm buying for profit. there is no other coin like Bitcoin with the

Same market to profit by trading with no added requirements.
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October 13, 2017, 08:36:51 AM
 #14

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

This will be the direction of every country in the world by the time they understand the truth about bitcoin and crypto currency that not everyone engaged in it is using it for either money laundering or fraudulent activities but its the next phase of what the future financial system is going to be and the people are wanting to be part of that future. The option left for government is to ensure that the rules of the game is not subverted and doing that means there is need for regulations.

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October 13, 2017, 09:27:18 AM
 #15

After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies.

He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system.

Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining.

"We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia.

See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrencies

This will be the direction of every country in the world by the time they understand the truth about bitcoin and crypto currency that not everyone engaged in it is using it for either money laundering or fraudulent activities but its the next phase of what the future financial system is going to be and the people are wanting to be part of that future. The option left for government is to ensure that the rules of the game is not subverted and doing that means there is need for regulations.

Wow. Putin stepping in to quash the idea of their Central Banks banning bitcoin in Russia. Is this another reason why we see the price going up today? I hope so that this will be direction of each and every country in the world. Bitcoin has been attached with a lot of negativity that every nation now thinks that bitcoin and cryto's are a bad thing so outright banning is necessary. We must admit there are really unethical people that is taking advantage of how bitcoin was design. However, it can still be outweighs on how most of us are using it. Regulations will be fine I guess, as long as the government will let their community used bitcoin for purposes of investing and earning. Though I tend to be skeptics about Russia and take everything with a grain of salt, I will let this pass and see how it goes with Putin stepping in.

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October 13, 2017, 09:50:01 AM
 #16

How do you have so much pessimism? Now the government allows us to use bitcoins? It does not prevent me absolutely. My approach to this so that I do should be for the government. The government should be for people. If it does not fulfill its obligations that I just ignore it. To Putin had the right to demand something, he must stop stealing. I don't live in Russia but if my government ban bitcoin I will not stop using cryptocurrencies.

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October 13, 2017, 02:27:12 PM
 #17

 That feeling when officials secretly  trade, but want to ban this ordinary people...

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October 13, 2017, 03:24:07 PM
 #18

good idea
joseafonso123az
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October 13, 2017, 04:01:27 PM
 #19

Lately there have been much speculation from Russia, some tell that it will get banned, other tell that it will get regulated but accepted. I believe that they will opt for the regulation of crypto, and I believe that many coutries will follow that, if Russia does. Russia has been a country that knows how to sustain their wealth, and now in what kind of things they should focus! Take an example of oil, Russians are leaders in that market! I think Russia won't take a decision that could make lose the potential that BTC might bring!
Lancusters
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October 13, 2017, 05:11:24 PM
 #20

I wonder how the Russians are going to do it? They can only control the ruble which does not need anyone. Then the users of bitcoins will change the bitcoin to dollar beyond the influence of Russia. I really want to see how Putin will abandon investment in the country. It's amazing how there are those who support this rubbish.

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