Russia Will 'Never' Consider Bitcoin Legalization, Says Minister

[PlusCoinINK]

The Russian minister of communications and mass media said yesterday that the country will not consider the legalization of digital currencies like bitcoin. 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.

What are your insights about this? Do you think it's really not possible to legalize Bitcoin in Russia?
Source:
https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

[Sharon2017]

government are afraid on things they cannot control like btc..especially if they cannot put tax on it..legalization will fallow if institution like commerce will accept btc..

[cindygirl]

Well firstly one person cannot speak for the whole of Russia, even Putin because eventually he will relinquish control and their may be a change in policy. Secondly if one person could speak for them then it certainly wouldn't be the communications and mass media minister. Also if I am not mistaken bitcoin is not illegal in Russia so they are instead talking about accepting it as legal tender.

[Psyloc9302003]

that is true government may change..one's opinion may not mean other opinion..legality will depends on the acceptance on a person..even if the government will not recognize btc as long as institution do..they don't need to legalize it..all it needs is acceptance from different organization..

[Shendy23]

If their government dont want it then the people have nothing to do with it. russia if an growing country which specialize on weapons, and bombs so i thing they are not ready to have new way of money in their country. But its to early for bitcoin to become a centralize money all over the world so we dont know what will happen to bitcoin in the future.

[Kakmakr]

Here is your answer : https://www.coindesk.com/vladimir-putin-vitalik-buterin-discuss-ethereum-opportunities-recent-forum/

The Russian government wants FULL control over every aspect of their citizens lives. <That includes their money matters> Vitalik will give Putin that control, because he is the founder and he can be influenced to do what Putin wants him to do.

Why? See below.

https://en.wikipedia.org/wiki/Poisoning_of_Alexander_Litvinenko

https://en.wikipedia.org/wiki/Assassination_of_Anna_Politkovskaya

Bitcoin will never give any governments that power, because there are nobody to "influence" <bribed/forced/manipulated>

[Tungsten-1]

The Russian minister of communications and mass media said yesterday that the country will not consider the legalization of digital currencies like bitcoin. 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.

What are your insights about this? Do you think it's really not possible to legalize Bitcoin in Russia?
Source:
https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/

I think bitcoin don’t care about Russia because  bitcoin have accepted by some other big countries and they are also rich countries and the good thing is some of them make bitcoin legal and still more countries are trying to accept bitcoin and want to make bitcoin legal, so I think if these countries are not interested in bitcoin so bitcoin can survive without them.

[saedasda]

I dont think because Putin invest money to the miner so it means that they are interested to bitcoin so there is a chance to legalize it

[Pursuer]

this is mostly nonsense. Russia says they want to legalize bitcoin one day and they say they will not the other. and they have not actually done anything either! if they want to "never" consider bitcoin legal then they should have made it illegal now! why haven't they yet?

and at the end of the day, people are still going to be using bitcoin whether their government wants it or not. it is too late for them to make it illegal, it is best to legalize and then set rules for it to at least force people to follow them. they won't stop using bitcoin just because the government said it is not legal.

[Pleione527]

Same scenario is happening in Indonesia and I guess more countries will decide to do the same thing if the issue involving bitcoin on illegal activities will not be eliminate. I think developers should find a way that government even without any control over bitcoin can even have the opportunity to review the transactions made by their people so that they can trace or even prevent illegal activities using bitcoin. If this thing can happen I'm sure it will be easy for the government to declare legality of bitcoin.

[Blockgraham]

The best example of Russian attitude to cryptocurrencies would be today's announcement made by Aksakov. According to him, there might be a launch of a few ICOs within the framework of the government. A kind of an experiment. All under thorough observation.
Take this years' announcement by Putin, when he said they would try to launch a crypto-ruble. Really?..

[1Referee]

it is too late for them to make it illegal, it is best to legalize and then set rules for it to at least force people to follow them. they won't stop using bitcoin just because the government said it is not legal.

That. If Russia, or basically any government wanted to at least get somewhat of a success in stopping Bitcoin, they should have banned each and every aspect of this market back in the sub 2013 years. It's their problem that they didn't take Bitcoin seriously back in the days, and now they will be paying the price for it. Currently it's far too late, and now the average person is gaining more knowledge on how to obtain Bitcoin and what it actually does technically, there is no way governments can prevent anyone from buying himself into Bitcoin. Russia's words in this case hold zero value due to their unsure/unstable stance on crypto currencies. If I say I'm going to do this or that, and that plenty of times in a row, and each time I don't back up these words with actions, how can anyone from that point take me seriously anymore? That's the case with Russia now.

[BitcoinHodler]

The best example of Russian attitude to cryptocurrencies would be today's announcement made by Aksakov. According to him, there might be a launch of a few ICOs within the framework of the government. A kind of an experiment. All under thorough observation.
Take this years' announcement by Putin, when he said they would try to launch a crypto-ruble. Really?..

are you sure you didn't misunderstand it and just hear the word ICO. because it seems like they are planning on adopting the blockchain technology and create a new coin for themselves not an ICO to raise funds!!!
and this "crypto-ruble" you are mentioning at the bottom is proving my point. that is the altcoin they have been working on to create and it has nothing to do with any ICO.

[Lancusters]

The best example of Russian attitude to cryptocurrencies would be today's announcement made by Aksakov. According to him, there might be a launch of a few ICOs within the framework of the government. A kind of an experiment. All under thorough observation.
Take this years' announcement by Putin, when he said they would try to launch a crypto-ruble. Really?..

Lol! They do not understand that to Russian projects will be the same attitude as their ruble. It is impossible to expect from the government's successful regulation of cryptocurrencies. Russia already had many monetary reforms, but every time their money for nothing. I'm sure that the same fate awaits crypto ruble.

[alyssa85]

Russia ia a kleptocracy - the people at the top take a cut of everything. They are probably afraid of bitcoin because it's a way of hiding money from the oligarchs - can't take a cut of money you don't know exists!

Russia is also under pressure because money is fleeing it - if you were Russian, would you keep money in Russia , or would you stash some of it abroad? At present they can't open bank accounts in the west, so bitcoin is the easiest way to get money out.

[apoteos]

https://news.bitcoin.com/regulation-moscow-stock-exchange-trade-bitcoin-futures/

They're gonna allow trading of BTC futures on the Moscow Exchange. I guess mother Russia will be joining the party BTC

[Samarkand]

....They are probably afraid of bitcoin because it's a way of hiding money from the oligarchs - can't take a cut of money you don't know exists!
...

I think you are badly mistaken here. BTC and other cryptocurrencies are great for oligarchs. Just look
at the recent events in the Ukraine. The cabinet members had to disclose their BTC holdings and there
were many ministers, who owned the BTC equivalent of several million $ or more.

And this is only what has been published, many people probably haven´t been caught or didn´t report their full cryptocurrency holdings.
I assume that the politicians in Russia are as heavily involved as their Ukrainian equivalents.

If you would get a bribe would you prefer a BTC payment or a wire transfer?

[Yazrielle]

I have red this article they said the russian law will not tolorate this foreign block chain called bitcoin but its possible thay they will use blockchain technology,but maybe if they're own creation. Bitcoin is unstopable and they cant trace where it came from they'll never control it that is why russia will never legalize btc.

[AliVul]

Representatives of state bodies are talking about a lot of things in general, aren`t always talking business and their words don't always remain unchanged

[Pettuh4]

Representatives of state bodies are talking about a lot of things in general, aren`t always talking business and their words don't always remain unchanged

Exactly, his views might not be reflective of the Russian government's agenda but rather his personal opinion which for me it's fair to express but he should be honest with himself and separate his position from that of governments because the statement is too conclusive.