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

[haroldtee]

Today you hear something from Putin, tomorrow you hear something else from someone else. It is understandable that most countries will want to see how they can adopt the blockchain technology without having to legalize bitcoin knowing its decentralized nature. However, not legalising does not mean it can be stopped and I am sure they already know that. Worst that would happen is for each country to introduce their own centralised coin and find a way to push it. Apparently, we just have to wait to see how things would all turn out at the end.

[cpfreeplz]

Hahaha Bitcoins are illegal because they are evil.... So we'll steal the technology and use a centralized version.

And this my friends is how you fall decades behind your fellow countries. Good luck to all Russians. This is an uphill battle against incompetent bribed morons.

[GreenBits]

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/

what he meant to say was "we did not find out about bitcoin and take it seriously until China is all in it. it would just be easier to make our own coin, fuck these sanctions"

and this is certainly for the best. a little considered vector of regulation is the current mountain of sanctions over Russia, courtesy of the US. If they were heavily involved with crypto, the US gov might restrict domestic users, to ensure that those sanctions arent subverted (bitcoin, with its hard to trace transactions is perfect for this).

i have concerns about regulation restricting US participation in Russian ICOs down the road.

Russia will have its own coin, and take control of its economy again. And I bet you the US will not take kindly to this attempt, given the current political climate.

[darklus123]

"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."

It's a pretty safe statement from the Russian government. The Russian government said that it is just simply against their jurisdiction which we can't blame them in a way.  However even if they said that bitcoin will never be legal. It isn't illegal either, just from the fact that they will consider using the blockchain technology when it is needed for the good of their country. However as long as they have no control on it. They will never recognize it.

[marky89]

"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?

Absolutely. There are rumors circulating that the Russian Federation will create a "Crypto-Ruble" that will essentially be a centralized blockchain backed by fiat money. I imagine they want to capitalize on the Bitcoin/blockchain hype, but push citizens towards regulated/surveilled payment systems. There are also similar rumors in China. The Bank of China has already developed and released an app called "Blockchain e-wallet" in the App Store. Supposedly it will be linkable to BOC debit cards. There is no functionality included for Bitcoin and other cryptocurrencies.

So I definitely think we are entering a new era of state-backed "cryptocurrencies" as governments try to steer their citizens away from decentralized money. As far as legalization, I think the cat is out of the bag. It's too late for major powers to effectively make Bitcoin illegal. That would work out like historic gold bans -- failures.

[khaled0111]

First of all you should tell us who the ... is Nikolai Nikiforov and why we should care about what he says.
After making some researches i knew that he is the Russian minister of communications.
I think that what he says have no sense taking in consideration the huge number of ICOs started from Russia and not being banned till now.
Governments can not stop bitcoin anymore.

[Cryptozond]

From Russian media and officials we often hear contradictory information depending on the situation on the market. I think the opinion will continue to change more than once

[BartS]

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

Russia has some of the most able leaders in the entire world in power, they are better than most people leading countries in the west, they are realizing and with reason that bitcoin is dangerous to the survival of states around the world, so to me it makes sense they are very careful when it comes to bitcoin, but different countries have different priorities and culture, that is why Japan accepted bitcoin so quickly.

[Jahreer]

still Russian goverment is not forever

[btcjoin14]

Today you hear something from Putin, tomorrow you hear something else from someone else. It is understandable that most countries will want to see how they can adopt the blockchain technology without having to legalize bitcoin knowing its decentralized nature. However, not legalising does not mean it can be stopped and I am sure they already know that. Worst that would happen is for each country to introduce their own centralised coin and find a way to push it. Apparently, we just have to wait to see how things would all turn out at the end.

Putin stated many things and didn't deliver. The people in Russia and other places state that they will ban Bitcoin but don't. So don't worry so much about it.

[lazer1064]

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/

It would be very stupid, illogical. Most recently, Moscow launched its national payment system "MIR", (translated as the world). It will be very difficult to promote it because of competition from VISA and MasterCard. In this case it would be very beneficial and logical to supplement the functional of the Russian payment system with the ability to input and output bitcoin. But no...
What do they have for people in general in the government? They have an IQ clearly below average.

[audaciousbeing]

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/

We have seen several things that people and even governments have said there is no way it can be possible but today it is. In the last people have said that there cannot be robot to be equated with human beings, today a robot Sophia has been granted citizen status in far away Saudi Arabia that have been known to be more of a conservative country. The reason for this analogy is that policies can change without any repercussions due to current scenarios and demands.

Even the statement gave an open ended one which does not seal the news in the negative but left it open because of the possibility of doing otherwise and not to be seen as an hypocrite or a liar. So, with time, the acceptance of bitcoin will be known.

[Gameroid]

Today you hear something from Putin, tomorrow you hear something else from someone else. It is understandable that most countries will want to see how they can adopt the blockchain technology without having to legalize bitcoin knowing its decentralized nature. However, not legalising does not mean it can be stopped and I am sure they already know that. Worst that would happen is for each country to introduce their own centralised coin and find a way to push it. Apparently, we just have to wait to see how things would all turn out at the end.

Interest of the stage in bloc chain technology is now increasing, they now realized the importance of online currency therefore they have been compel to accept the importance of online currency therefore they are at least thinking about how to turn bitcoin as legal currency. At least they must be thinking about how to create their own crypto currency which they can use in limited area and for limited purposes.

[batang_bitcoin]

They will never consider bitcoin a their legal entity? What? What do they think about bitcoin and then while saying this, "we will have our own coin". Russia are quite messing up with what they are saying on their stance about bitcoin. It is something that they should recognize or give a strong statement if there is really a possibilitt just tell it to the people and remove that 'quite'.

[swogerino]

For the moment from Russia we have only see cloud mining scams with Hashprofit and Hashocean being some of the worst scams ever pulled.
This saying from Russia that Bitcoin will never be legalized is just a warning to people there and not the world I think. We can continue with using Bitcoin no matter what Russia say or does. The power of bitcoin lies even in its algorithm which cannot be or at least has not been compromised so far by Russians or anyone else.

[carlowell]

Bitcoin as the Mother of Cryptocurrencies is supposedly act like a virtual currency that can be the coins circulated in the world to be as payment for products and services but today Altcoins are really acting like a real currency and Bitcoin is an Internet Gem that people were not actually use it as purpose but instead collect it and hold or hide it from behind wallets that is like a valuable Gem that used to be invested.
But Bitcoin is volatile and any time soon it will have no value at all because it is a intangible Gem that relies on internet and blockchain networks.

[steven.spearman]

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'm sure they're just bluffing to get the bitcoin prestige down, we'll see next year what Russia will do with bitcoin, whether they still ban it or support it.

[carlowell]

Today you hear something from Putin, tomorrow you hear something else from someone else. It is understandable that most countries will want to see how they can adopt the blockchain technology without having to legalize bitcoin knowing its decentralized nature. However, not legalising does not mean it can be stopped and I am sure they already know that. Worst that would happen is for each country to introduce their own centralised coin and find a way to push it. Apparently, we just have to wait to see how things would all turn out at the end.

Although not all countries are adopting Bitcoin as the main Crypto-Currency but the Blockchain itself is a sustainable digital monetary that must be adapted because Crypto-Currency is the future of monetary economy and trade. Any country that is not able to adapt Crypto-Currency will cannot sustain the advancement of economy and trades.

[Hach]

Bitcoin is money out of control and i don't think any government wants to let circulating money they can't control and specially can't tax.

[Erkallys]

Russia - as China - always had a trouble game on Bitcoin, one day saying it is forbidden, and the day after saying they want to conquer market shares in term of mining. It is very misleading, and so I think the best is to not care at all about what is being said.