Russia says BTC will never be legalised - do you think we'll see a knock on?

[GoldenOrder]

Back in the XX century, russians said Russia would never be capitalist because socialism would prevail all over the world. Look what happened.

Ignore this fool.

[1715085537]

1715085537

[Xester]

As long as I am not a Russian and not living in Russia I will not mind this news.  Their government just stands on what it thinks is right and just to their country.  As to the effect of this news to bitcoin, I do not think that it will greatly affects bitcoin.  Just the same what happened to bitcoin when China withdraws or banned bitcoin.

[TheCoinGrabber]

It's very likely that what he mentioned as use of blockchain would be on the government's own fiat. Bitcoin coming in is basically money from abroad and it seems the Russia wants total control of its economy. Digital ruble anyone?

It is quite true. I believe that it will. Russia will never allow the free circulation do not of their territory is a controlled currency. The methods of the struggle can be very hard. During the Soviet era in Russia shot people for trade dollars. Putin came from the KGB so I assume any options.

Oh, that's horrible. 

Back in the XX century, russians said Russia would never be capitalist because socialism would prevail all over the world. Look what happened.

Ignore this fool.

Was it also Russian that advocated printing a lot of money to the point that it becomes worthless so that people would no longer bother working for money? Commies sure comes up with a lot of crazy ideas.

[Jating]

Its very obvious that bitcoin will never be embraced by Russia as long as Putin is in there. For one, they keep on contradicting themselves. Second, Putin would not endorsed anything that it can't control, not even if he has a good relationship with the founder of ETH.

And they did have their own cryptocurrency if I'm not mistaken and tax are horrible high. Do you think they target ordinary citizens to get their coins? I don't think so. My initial thought is that they are leaning towards crypto, but reading a lot of contradictory statement, and never seen any official stating the facts. I'm not surprise to find this news that they are not legalizing bitcoin in any form.

[BartS]

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."


The article goes on to say:

"However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."

Do you think we'll see other countries going down this route?

Source: https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

I will not be surprised if many countries followed that same train of thought, bitcoin is not something they are fond of especially countries that have a stricter control of their citizens than in the west, I think we are going to see three different scenarios, we are going to see some countries adopting bitcoin, some countries baning bitcoin and some other countries regulating it to death.

[invincible49]

This makes sense because of Russia's history with traders. Also I read somewhere that BRICS countries are trying to bring in a new currency against dollar. If it happens then they won't take risks to legalized bitcoin in their counties for trading. Bitcoin gives people freedom while these government want local currency to rule people's lives.

[ladydark]

There is nothing to get surprise since russia being a communist country will never welcome such inventions which give financial freedom to its citizens.They just want to have a full tight hold over their citizens.Just few days before,we saw that the dictator of russia,putin said that bitcoin is a pyramid scheme.From that time itself,its clear that russia would never legalize bitcoin.

[AGD]

Bitcoin has no borders.

[Forstrim]

Russia with such idiots in power will never have a future.

[dawoodkhan97]

I think this is the real beauty of Bitcoin as no single country
or countries can control bitcoin due to being decentralized.

The same happened when China cracked down on exchanges
and ICO companies, bitcoin came out even stronger than before.

Sooner than later, they have to accept what bitcoin or the
blockchain technology has to offer.

[Marucya]

To the statement of deputy. minister that the bitcoin will never be legalized in Russia, there are several reasons for not reacting strongly. In Russia, for some reason, every high official expresses his point of view without taking responsibility for his words. Tomorrow he can change his point of view, as there have been times with similar statements by such persons, right up to Putin himself. However, it is also not necessary to expect from the current Russian government that they will allow the Crypto-currency to go unchecked across Russia. Most likely, Russia will again close in its shell and possibly issue some of its controlled crypto currency, which will mainly be used only on its territory. The crypto-currency market is likely to manage and develop without Russia. In any case, until the government changes there and other people with different views come to power.

[Oilacris]

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."


The article goes on to say:

"However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."

Do you think we'll see other countries going down this route?

Source: https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

I already anticipated such thing which most governments would really only see the usefulness of blockchain technology that have been used by bitcoin which they dont really care at all on adopting it and would rather get the idea and make use on other things instead. We cant be sure if other countries would follow the same path but in my own view they would really come along.

[dhka]

People change, nothing strange about that
Let them watch this community closely and make their judgement again later on  

[iamTom123]

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."


The article goes on to say:  "However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."

Do you think we'll see other countries going down this route? Source: https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

Russia is a country known to be having many faces and mouths especially concerning cryptocurrency. I think the government has already spoken that they will allow Bitcoin and other cryptocurrencies but under strict regulations as they are careful that the platform not be used for illegal activities. The government is fully aware of the immense potential of Bitcoin to bring in new economic activities for the country and they know that many Russians are already into cryptocurrency long before the government have noticed of them.

Soon, there would be Bitcoin miners to transfer from China to Russia and this is a very good opportunity for the country to establish itself as one of the most influential mining countries. I believe that eventually Russia would soon be laying the red carpet for Bitcoin though in an environment where everybody have to toe the line as the government is serious in punishing rule infractions.

[DannaWonder]

Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."


The article goes on to say:

"However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."

Do you think we'll see other countries going down this route?

Source: https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

Then why are they allowing their citizen's to release a lot of ICO's and do a lot of mining. We all know that Russia has a big part on Bitcoin mining and they made a lot money from it from the start. A lot of ICO's are managed and made by their citizen's in the past which collected a lot from investors.

Why are they saying now that bitcoin can't be legalized in their country then? After of all the funds that they earned from other people?

[BartS]

It's very likely that what he mentioned as use of blockchain would be on the government's own fiat. Bitcoin coming in is basically money from abroad and it seems the Russia wants total control of its economy. Digital ruble anyone?

It is quite true. I believe that it will. Russia will never allow the free circulation do not of their territory is a controlled currency. The methods of the struggle can be very hard. During the Soviet era in Russia shot people for trade dollars. Putin came from the KGB so I assume any options.

Oh, that's horrible. 

Back in the XX century, russians said Russia would never be capitalist because socialism would prevail all over the world. Look what happened.

Ignore this fool.

Was it also Russian that advocated printing a lot of money to the point that it becomes worthless so that people would no longer bother working for money? Commies sure comes up with a lot of crazy ideas.

I would agree with you on your third point but capitalist countries are not doing such a good job either, the US printed a lot of money in the previous years and many other countries around the world did the same, things are about to get really difficult maybe not in this year but soon enough since a global economy based on debt cannot last forever.

[Hydrogen]

Nikolai Nikiforov, the person making remarks about russia never legalising crypto, is a russian minister of communications and mass media.

Last I checked, communications and media don't have much to do with economic policy or financial planning.

Nikolai Nikiforov appears to be commenting on areas outside his expertise and knowledge. If Nikolai were commenting on the news media or internet infrastructure his comments might be legitimate. But as he's commenting on policies involving finance and economic matters it is possible that he's speaking his personal opinion on the topic, rather than what russia itself endorses as a state.

[Baofeng]

Nikolai Nikiforov, the person making remarks about russia never legalising crypto, is a russian minister of communications and mass media.

Last I checked, communications and media don't have much to do with economic policy or financial planning.

Nikolai Nikiforov appears to be commenting on areas outside his expertise and knowledge. If Nikolai were commenting on the news media or internet infrastructure his comments might be legitimate. But as he's commenting on policies involving finance and economic matters it is possible that he's speaking his personal opinion on the topic, rather than what russia itself endorses as a state.

That's why you never really know who should be making the official announcement from Russian government about bitcoin and crypto because its been really confusing for most of us the statement coming from them. Like watching a tennis ball bouncing from one court to another. They contradicts every statement they made. 

This maybe his personal comments, but it still have impact for the Russian bitcoin community because he is part of the government. Russians may think then that his statement carry that much weight whether its his personal views or the Russian government itself.

[NikolayRaev]

To combat illegal transactions, Russia in 2018 can recognize bitcoin and other crypto-currencies.

 How the government says "At every moment the state should know who is on both sides of the financial chain. If there is a transaction, the people who conduct it must understand who they are buying from and to whom they are selling, just as with banking operations "
 Having exposed certain requirements to crypto-currencies, it is possible to solve the problem of money laundering. Now transactions are usually carried out on the principle of pseudo-anonymity, when the payment parameters are known, but the sender and receiver are not known. Technologically, everything can be deployed in the opposite direction - when the sender and receiver are known, but the amount is unknown.

 Thus, the only condition for the legalization of bitcoin in Russia, will be a complete rejection of the anonymity of the conducted transactions.

[FrueGreads]

The position of Russian regarding cryptocurrencies is very confusing and they keep saying different things from time to time. They were suppose to issue official regulations for ICOs in 2018, so this probably means they haven't decided yet. They are definitely "pro blockchain", and they were actually the first (or second country), to launch it's own "cryptoRuble". There are some well known russian billionaires investing in crypto, so maybe this will put some pressure on Russia's government.