Regulating Cryptocurrencies"

[proexcept]

Regulation can damage the development of the crypto currency. If you read the analysis of this law, you probably noticed that it sets limits. For example, limiting the amount that can be invested in ICO. This greatly upset many citizens of Russia.

[Washball]

Cryptocurrencies are decentralized currencies and regulation from the Russian government seems a contradiction. Of course it's a good idea to try to stop illegal activities like money laundering, keeping an eye on exchanges in order to protect the customers. But it always turns out to be for other reasons, governments want to get their share.

[topchiiy86]

These laws apply a lot of limitations and other issues, so I don't think is a good news. I'd prefer to have such regulation as in Belarus, where you don't have to pay any taxes and don't have any limits.

[Leyss]

The introduction of such a bill by a State Duma deputy does not at all mean that he will be adopted as a law. Recently, senior officials of this country have clearly stated that the only legitimate crypto currency in Russia can be a centralized cryptorubl. This means that the rest of the crypto currency will be declared illegal. Although the opinion on the crypto currency is changing constantly and as a result, another law can be adopted.

[boakyei]

If this is news is good to go with then it will help the cryptocurrency to gain more legitimate by having regulators checking the use of it. With an assurance from a government to regulate it, it will be  build confidence in the use of crypto currencies.

[iigor]

I think that soon or later regulations will take place. It will be a lot better if regulations start  from places like Russia, not US or EU.

[entr]

While ipo's heavliy regulating, ico's can be maintained without regulations. It obvious that it will now last forever. Hope this regulations help us to create more valuable cryptocurrency world.

[Shenzou]

Great news,A new law in Russia has been proposed which is aiming to regulate and control the production of cryptocurrencies and digital assets in financial sectors.
The newly proposed legal framework would properly define regulatory requirements for cryptocurrencies, ICO's mining and traiding. The law was also proposed in order to curb or stop illicit and illegal activities that might be contracted with cryptocurrencies.


http://bitcoinist.com/russia-plans-to-regulate-production-and-control-of-cryptocurrencies/

Cryptocurrency is not somthing tha can be easily regulated or controlled, the anonyms nature and the decentreliaztion, makes it impossible or very hard for govermments to actaully track or monitor the transactions, the ICO regulation might get applied but only for the founders and the company itself but not for the actual users, the only way i can see cryptocurrency getting regulated is if govermment actaully leagalized it first, that way users can actaully use it without trying to hide their identites and they will start paying taxes for exchanges made by the govermments it self because it will be more convenient.

[faceoff97]

Great news,A new law in Russia has been proposed which is aiming to regulate and control the production of cryptocurrencies and digital assets in financial sectors.
The newly proposed legal framework would properly define regulatory requirements for cryptocurrencies, ICO's mining and traiding. The law was also proposed in order to curb or stop illicit and illegal activities that might be contracted with cryptocurrencies.


http://bitcoinist.com/russia-plans-to-regulate-production-and-control-of-cryptocurrencies/

This has to really be done, the production of cryptocurrencies are already out of control. There is no denying that more scamming is occuring and regulation is a need now. If this would really happen, it will surely filter those project which are legit nd really has realistic technology.

Regulation may actually help to make bitcoin become secured and established. This would also attract greater number of people because of assurance from the government.

[Bytem3]

Regulations are needed for cryptocurrency to go to the next level. They will contribute to a healthy growth.

South Korea just installed new regulations to prevent speculative trading and criminal activity (money laundering and tax evasion):
https://coincodex.com/article/1226/the-end-of-anonymous-bitcoin-trading-in-south-korea/

[Kezio]

Doesn't regulation mean it will become centralized? I thought the whole point of crypto was for the user to have control over his own transactions without having to use a intermediary such as a bank. Surely the governmental regulation will go through a bank.

[7788bitcoin]

Actually most of the countries are accepting the bitcoin nowadays but the problem is they are trying to regulate a decentralized technology.
But it is a good thing too,which stops the cryotocurrency usage by terrorist or illegal activists but the con is we have to pay the taxes for using cryotocurrency.
Not yet regulated they are just planning to do,hope to get a good news from Russian ministry.

If you are making money with crypto currency then definitely you have to pay your taxes even now,if not you will be forced to pay with a fine for the income you have made through online,it is simple as that,the government is not trying to regulate bitcoin but they are trying to regulate the flow of fiat money in and out of it.

[lobo13hf]

Doesn't regulation mean it will become centralized? I thought the whole point of crypto was for the user to have control over his own transactions without having to use a intermediary such as a bank. Surely the governmental regulation will go through a bank.

The regulation can only be applied to the centralized exchange site of crypto because basically the funds stored in the one place just like a hot wallet that has been managing by the exchange team itself.
Crypto is decentralized caused by they are using a lot of nodes to run the network and validate the transaction.

The regulation will give an impact to the exchange site but i can't say if that will be giving a lot of impact to the personal holders or traders directly.

The government needs more and more money through give the taxes to the crypto.

[Babyjamz3026]

There are some countries in the entire world now, which crypto currency was being regulated like Japan, China, Korea, and India. And I think this was happening because of the trend of digital or virtual currency I think. But I m not sure if once if becomes regulate it means its centralize.  

[KingScorpio]

Great news,A new law in Russia has been proposed which is aiming to regulate and control the production of cryptocurrencies and digital assets in financial sectors.
The newly proposed legal framework would properly define regulatory requirements for cryptocurrencies, ICO's mining and traiding. The law was also proposed in order to curb or stop illicit and illegal activities that might be contracted with cryptocurrencies.


http://bitcoinist.com/russia-plans-to-regulate-production-and-control-of-cryptocurrencies/

whats going to be the use of those laws, these countries have an overblown financial sektor an aging police, people will try to get rid of all of those.

law is meaningless and just created to protect the decadent rusian financial elites that orders the construction of private superyachts with at least 8 swimming pools inside.

these elites corrupt and suck via russias financial system and live like a burden on all they want to continue doing that, and have now created that law, or corrpted the payment channels,

not to mention the construction of the gay financial towers in moscow. london new york frankfurt

these are also going to dissapear....

[frost_wind]

Yea , we know the way how this regulations will work in Russia . The regulating rules they offer is much more tighter then , for example in Japan or Belarus . Essentially , if those rules would be accepted , Russia will remain on the sidelines of the world's crypto revolution .

[Nikobitkoint54097]

It's a real good news. If this news is approved and seen in the mainstream media,  It will have a very positive effect on bitcoin and altcoins

What are you talking about!? There will be no positive impact on the crypto currency! The whole idea and popularity of bitcoin was in anonymous character and decentralization! And if regulation begins, will its advantages remain actual!? Probably not!

[mia khalifa]

Great news,A new law in Russia has been proposed which is aiming to regulate and control the production of cryptocurrencies and digital assets in financial sectors.
The newly proposed legal framework would properly define regulatory requirements for cryptocurrencies, ICO's mining and traiding. The law was also proposed in order to curb or stop illicit and illegal activities that might be contracted with cryptocurrencies.


http://bitcoinist.com/russia-plans-to-regulate-production-and-control-of-cryptocurrencies/

that means Russia will develop more deeply about digital currency and hopefully this will trigger the rise of digital currency price not just bitcoin but also other altcoin like ETH and others.

[Lang09]

Do Russia want to control cryptocurrency in their country? That's not a good news, because many Bitcoin investors will be affected. As a matter of fact, it would be better for us than forbidding the cryptocurrency in their country, the greater the impact it will be if it happens.

[darkr]

Great news,A new law in Russia has been proposed which is aiming to regulate and control the production of cryptocurrencies and digital assets in financial sectors.
The newly proposed legal framework would properly define regulatory requirements for cryptocurrencies, ICO's mining and traiding. The law was also proposed in order to curb or stop illicit and illegal activities that might be contracted with cryptocurrencies.


http://bitcoinist.com/russia-plans-to-regulate-production-and-control-of-cryptocurrencies/

With these rules and with its crypto ruble (when it appears) Russia can start many blockchain projects officially, and this news is good only for big dealers that want to raise their business. However, most of people dealing with virtual currency do not feel happy through this information.