In Russia, the law on cryptocurrencies and mining will be adopted before 1 July.

[Alex_nutis]

Why do we need this law?

Comments of the Deputy Minister of Finance of Russia Alexei Moiseev:

The law was developed to protect the interests of all participants of the financial market in order to reduce the risks of working with crypto-currencies. (C)
- Are you seriously? Ha-ha-ha 

Cryptomoney, in the majority, have a speculative character, therefore the risk of loss of assets is very large. If the exchange rate falls, neither the Central Bank, nor any other bodies will be able to help investors without legislation.
One of the latest examples of this phenomenon can be called a sharp drop in bitcoin, which occurred the other day. When the coin lost just one and a half thousand dollars (from 16 thousand fell to 14.5 thousand). (c)
- When I read, I laughed and cried. Is he from Russia? It seems the name is Russian. It's strange that he forgot how in 1998-1999 for 11 months the exchange rate of the national currency fell 4 times! And in 2014-2015 the exchange rate of the national currency fell 2 times!

Miners will be obliged to pay tax.
- What will I give them tax, bitcoins? Clowns

For non-professionals, a limit is set for the amount to participate in ISO - about 870 dollars.
- How will they control me?

And the funniest thing is - maybe a national currency will appear in Russia.
- Who needs it! Who will use it!

[1714861354]

1714861354

[1714861354]

1714861354

[1714861354]

1714861354

[1714861354]

1714861354

[ProofOfLambo]

Why do we need this law?

Comments of the Deputy Minister of Finance of Russia Alexei Moiseev:

The law was developed to protect the interests of all participants of the financial market in order to reduce the risks of working with crypto-currencies. (C)
- Are you seriously? Ha-ha-ha 

Cryptomoney, in the majority, have a speculative character, therefore the risk of loss of assets is very large. If the exchange rate falls, neither the Central Bank, nor any other bodies will be able to help investors without legislation.
One of the latest examples of this phenomenon can be called a sharp drop in bitcoin, which occurred the other day. When the coin lost just one and a half thousand dollars (from 16 thousand fell to 14.5 thousand). (c)
- When I read, I laughed and cried. Is he from Russia? It seems the name is Russian. It's strange that he forgot how in 1998-1999 for 11 months the exchange rate of the national currency fell 4 times! And in 2014-2015 the exchange rate of the national currency fell 2 times!

Miners will be obliged to pay tax.
- What will I give them tax, bitcoins? Clowns

For non-professionals, a limit is set for the amount to participate in ISO - about 870 dollars.
- How will they control me?

And the funniest thing is - maybe a national currency will appear in Russia.
- Who needs it! Who will use it!

Obviously the government is looking for several things: the first is taxes, but the most important is likely to control and information. They just don´t want anything related to finance escaping the central control

[stompix]

When it comes to Russia, you never know what's inside their heads,or if there is at least something working there.

Saying they will adopt a law regarding cryptos before July is making me willing to bet nothing will happen before that date. Only the constant ban from China is more haotic that what comes from the Russian lawmakers.

They are against, then they are friendly, they encourage miners to move to Russia and they want to tax them?

https://www.rt.com/business/410028-russia-bitcoin-megacity-siberia/

Russia may soon build a city in Siberia just to mine cryptocurrency. The idea is to provide a new source of income for people and the state, and in the future create a rival to Silicon Valley.

They are just going nuts with those promises...who is going to believe them?

The main problem for them is they can't control the flow of money.
That's the reason China is against BTC, and Russia will follow as they too experience massive capital outflows.

As for their cryptorubble...common, let's be serious.

[CaptainKid]

Regarding the regulation of the currency and taxes on mining in Russia, there is indeed a lot of news. The government sees a huge flow of investments that they can not regulate. They can not look at it calmly, so they take such measures.

[perfect999]

Why do we need this law?

Comments of the Deputy Minister of Finance of Russia Alexei Moiseev:

The law was developed to protect the interests of all participants of the financial market in order to reduce the risks of working with crypto-currencies. (C)
- Are you seriously? Ha-ha-ha 

Cryptomoney, in the majority, have a speculative character, therefore the risk of loss of assets is very large. If the exchange rate falls, neither the Central Bank, nor any other bodies will be able to help investors without legislation.
One of the latest examples of this phenomenon can be called a sharp drop in bitcoin, which occurred the other day. When the coin lost just one and a half thousand dollars (from 16 thousand fell to 14.5 thousand). (c)
- When I read, I laughed and cried. Is he from Russia? It seems the name is Russian. It's strange that he forgot how in 1998-1999 for 11 months the exchange rate of the national currency fell 4 times! And in 2014-2015 the exchange rate of the national currency fell 2 times!

Miners will be obliged to pay tax.
- What will I give them tax, bitcoins? Clowns

For non-professionals, a limit is set for the amount to participate in ISO - about 870 dollars.
- How will they control me?

And the funniest thing is - maybe a national currency will appear in Russia.
- Who needs it! Who will use it!

Obviously the government is looking for several things: the first is taxes, but the most important is likely to control and information. They just don´t want anything related to finance escaping the central control

This is really a good news that the government of some country have started taking such a positive step I order to promote crypto currencies in their country. I am very much sure that rest of the countries in the world will soon do the same and will declare the crypto currencies as legal currencies.

In the near future, things will be in very much favor of the crypto currencies and people will start investing their money without having any fear.

[Alex_nutis]

When it comes to Russia, you never know what's inside their heads,or if there is at least something working there.

Saying they will adopt a law regarding cryptos before July is making me willing to bet nothing will happen before that date. Only the constant ban from China is more haotic that what comes from the Russian lawmakers.

They are against, then they are friendly, they encourage miners to move to Russia and they want to tax them?

https://www.rt.com/business/410028-russia-bitcoin-megacity-siberia/

Russia may soon build a city in Siberia just to mine cryptocurrency. The idea is to provide a new source of income for people and the state, and in the future create a rival to Silicon Valley.

They are just going nuts with those promises...who is going to believe them?

The main problem for them is they can't control the flow of money.
That's the reason China is against BTC, and Russia will follow as they too experience massive capital outflows.

As for their cryptorubble...common, let's be serious.

Read less news about Russia. In Russia there is a city Irkutsk. In this city, the price for electricity is about 2 cents. There are a lot of mining farms in and around this city.

[metenjean]

Why do we need this law?

Comments of the Deputy Minister of Finance of Russia Alexei Moiseev:

The law was developed to protect the interests of all participants of the financial market in order to reduce the risks of working with crypto-currencies. (C)
- Are you seriously? Ha-ha-ha 

Cryptomoney, in the majority, have a speculative character, therefore the risk of loss of assets is very large. If the exchange rate falls, neither the Central Bank, nor any other bodies will be able to help investors without legislation.
One of the latest examples of this phenomenon can be called a sharp drop in bitcoin, which occurred the other day. When the coin lost just one and a half thousand dollars (from 16 thousand fell to 14.5 thousand). (c)
- When I read, I laughed and cried. Is he from Russia? It seems the name is Russian. It's strange that he forgot how in 1998-1999 for 11 months the exchange rate of the national currency fell 4 times! And in 2014-2015 the exchange rate of the national currency fell 2 times!

Miners will be obliged to pay tax.
- What will I give them tax, bitcoins? Clowns

For non-professionals, a limit is set for the amount to participate in ISO - about 870 dollars.
- How will they control me?

And the funniest thing is - maybe a national currency will appear in Russia.
- Who needs it! Who will use it!

I think this is the first step of clarity that government will start adopting laws like this for bitcoin, this is probably good news for bitcoin legality but also bad news for tax evaders and miners. Miners will be obliged to pay tax, i dont think this could be applied based on bitcoin price which is absolutely volatile but maybe based on how many mining tools  you got. Seems like russian will be the first countries to start this law and its a good sign for cryptocurrencies acceptance in the world 

[Kotone]

Why do we need this law?

Comments of the Deputy Minister of Finance of Russia Alexei Moiseev:

The law was developed to protect the interests of all participants of the financial market in order to reduce the risks of working with crypto-currencies. (C)
- Are you seriously? Ha-ha-ha 

Cryptomoney, in the majority, have a speculative character, therefore the risk of loss of assets is very large. If the exchange rate falls, neither the Central Bank, nor any other bodies will be able to help investors without legislation.
One of the latest examples of this phenomenon can be called a sharp drop in bitcoin, which occurred the other day. When the coin lost just one and a half thousand dollars (from 16 thousand fell to 14.5 thousand). (c)
- When I read, I laughed and cried. Is he from Russia? It seems the name is Russian. It's strange that he forgot how in 1998-1999 for 11 months the exchange rate of the national currency fell 4 times! And in 2014-2015 the exchange rate of the national currency fell 2 times!

Miners will be obliged to pay tax.
- What will I give them tax, bitcoins? Clowns

For non-professionals, a limit is set for the amount to participate in ISO - about 870 dollars.
- How will they control me?

And the funniest thing is - maybe a national currency will appear in Russia.
- Who needs it! Who will use it!

Cryptocurrency is something that we all agree should be regulated for it to continue to strive towards. The more that we have implications set in place then the more that we would have the freedom to have it spread onward and that is one thing that we all cryptocurrency users all want wish and desire. If this passes then a major country like Russia can influence some countries to maybe look toward cryptocurrency as a new currency

[Afnan_faizah]

Thats so funny. But it really makes people pretend that bitcoin is bad. This actually will give bad impact on bitcoin because for peoppe who don't know about bitcoin so well then they will avoid it. For people who understands about bitcoin they will not have any problem with that law because law is just law. Bitcoin users can use their bitcoin freely as they please. Bitcoin provide complete freedom for their users. Government cannot rule bitcoin and its users. Who know if somebody use bitcoin? Who know how many bitcoin they have?

[NicG13]

In Russia, like in any other country, unless they make it attractive to people to play by the rules no one will. They can legislate as much as they want but, for the most part, what they legislate will be unenforceable. If they want to be part of the future they have to be smart and work with the people, not against the people.

[cr_liev]

Of course, they will say they want to protect you! It's never different in other countries, too, not only in Russia. I'm sure the governments now look for the opportunities to control the funds flow in crypto, which could be charged taxes but it isn't. I hope... we will find the way out!

[Tapyaks72]

Why do we need this law?

Comments of the Deputy Minister of Finance of Russia Alexei Moiseev:

The law was developed to protect the interests of all participants of the financial market in order to reduce the risks of working with crypto-currencies. (C)
- Are you seriously? Ha-ha-ha 

Cryptomoney, in the majority, have a speculative character, therefore the risk of loss of assets is very large. If the exchange rate falls, neither the Central Bank, nor any other bodies will be able to help investors without legislation.
One of the latest examples of this phenomenon can be called a sharp drop in bitcoin, which occurred the other day. When the coin lost just one and a half thousand dollars (from 16 thousand fell to 14.5 thousand). (c)
- When I read, I laughed and cried. Is he from Russia? It seems the name is Russian. It's strange that he forgot how in 1998-1999 for 11 months the exchange rate of the national currency fell 4 times! And in 2014-2015 the exchange rate of the national currency fell 2 times!

Miners will be obliged to pay tax.
- What will I give them tax, bitcoins? Clowns

For non-professionals, a limit is set for the amount to participate in ISO - about 870 dollars.
- How will they control me?

And the funniest thing is - maybe a national currency will appear in Russia.
- Who needs it! Who will use it!

I think this is the first step of clarity that government will start adopting laws like this for bitcoin, this is probably good news for bitcoin legality but also bad news for tax evaders and miners. Miners will be obliged to pay tax, i dont think this could be applied based on bitcoin price which is absolutely volatile but maybe based on how many mining tools  you got. Seems like russian will be the first countries to start this law and its a good sign for cryptocurrencies acceptance in the world 

There is always positve and negative effect as result of some government interventions to legalize good thing is you can be protected againts fraud and sudden crush of crypto currency bad things are the can imposed laws that would oblied miners,investors and operators to pay taxes becuase the government might seen potential oppotunities as good sources of taxes.

[Future3000]

In Russia they try to control everything, so why should we be surprised?
I'm sure they will set a tax at least

[Tankdestroyer]

In Russia they try to control everything, so why should we be surprised?
I'm sure they will set a tax at least

Nevertheless I don't expect them to fully regulate all of miners and cryptocurrency users, there will always be loopholes in their regulation system and I wouldn't also be surprised if we heard a news of someone being arrested in Russia because of cryptocurrency tax evasion. The only question is that if they will continue to set a tax after their  regulation system has been deemed as ineffective? I think they would try to improve it further if that happens. What's your take on this?

[Bryan_12]

Unlike other governments, they approve it with a double intention, a pretend to be a government so flexible that allows the mining and circulation of cryptocurrencies within the environment and on the other hand, the intention to obtain information, data, and thus have a indirect control of the finances of its citizens.

[Gregoryxl]

I think it's a good thing, I do not want to get ahead of the facts and I'd rather wait as situations continue with Russia in the next few days for better or for worse.

[Clement Kaliyar]

The main problem for them is they can't control the flow of money.
That's the reason China is against BTC, and Russia will follow as they too experience massive capital outflows.

If a government wants to stop the flow of money outside the country with the help of banks and the exchanges running in that particular country,it is possible to restrict the flow of money,either you are following the rule or you are against what is given by the government,how will you be able to proceed with a transaction if you are not holding any coins and you wanted to purchase some with fiat,if the government restricts that,you have to obey that rule.

[trickyriky]

In Russia they try to control everything, so why should we be surprised?
I'm sure they will set a tax at least

It is true! Naturally, when mining is legalized, then the taxes for this activity will be taken. However, I think there will be a lot of so-called illegal miners still.

[Hopeful2017]

Why do we need this law?

Comments of the Deputy Minister of Finance of Russia Alexei Moiseev:

The law was developed to protect the interests of all participants of the financial market in order to reduce the risks of working with crypto-currencies. (C)
- Are you seriously? Ha-ha-ha 

Cryptomoney, in the majority, have a speculative character, therefore the risk of loss of assets is very large. If the exchange rate falls, neither the Central Bank, nor any other bodies will be able to help investors without legislation.
One of the latest examples of this phenomenon can be called a sharp drop in bitcoin, which occurred the other day. When the coin lost just one and a half thousand dollars (from 16 thousand fell to 14.5 thousand). (c)
- When I read, I laughed and cried. Is he from Russia? It seems the name is Russian. It's strange that he forgot how in 1998-1999 for 11 months the exchange rate of the national currency fell 4 times! And in 2014-2015 the exchange rate of the national currency fell 2 times!

Miners will be obliged to pay tax.
- What will I give them tax, bitcoins? Clowns

For non-professionals, a limit is set for the amount to participate in ISO - about 870 dollars.
- How will they control me?

And the funniest thing is - maybe a national currency will appear in Russia.
- Who needs it! Who will use it!

Russia is starting to control and regulate bitcoin in their country. This simply indicates that they are interested in collecting tax to the people using bitcoin. Likewise, this is the start that cryptocurrency will be adapted since they will be starting their national currency. If that happens, then only Russians will be able to use it.

[last7minutes]

I think it's a good thing, I do not want to get ahead of the facts and I'd rather wait as situations continue with Russia in the next few days for better or for worse.

You can find here the good thing. Nobody is going to ban Bitcoins and other cryptocurrency in Russia and nobody will restrict people mining. Taxes will appear, however.