Russia prepares to legalize cryptocurrency market by July 2018

[NileCoin ICO]

As revealed in a report by the Russian parliament’s official publication on March 1, Russian president Vladimir Putin has set a deadline on July 1 for relevant cryptocurrency legislation to be adopted in the country. Russian authorities are planning to pass new legislation that would effectively legalize cryptocurrency markets by summer 2018.

The report specifically points to two draft laws centered on blockchain technology that have been developed so far. Russia’s Ministry of Finance has put the spotlight on legal guidelines for the issuance of initial coin offerings (ICOs) while the country’s central bank has prepared a separate draft law on crowdfunding.

Two authorities have agreed upon the main regulatory moves on cryptocurrencies, save for one major contradiction when it comes to cryptocurrency exchanges operating in the country. In essence, the central bank isn’t keen on retail traders and investors participating in cryptocurrency trading.

A separate bill on digital assets – to be submitted to the Russian Parliament this month – will aim to establish governance rules surrounding cryptocurrency mining. Individual entrepreneurs will be allowed to enter mining pools established by legally recognized entities and “conduct activities to extract cryptocurrencies that do not fall under the criteria of industrial mining,” said Alexei Mostovshchikov, chair of the Expert Council of the Youth Parliament under the Russian Duma.

Aksakov further stressed that both bills, from the central bank and the finance ministry, will be submitted to the chamber this month.


NilecoinTeam.

[acha1217]

If this right, this will will be bring many good effect to cryptocurrency world, because by legalize Bitcoin, that will be make many people join to invest in crypto and the price rates of cryptocurrency  will be going up.
And I hope my country will be legalize bitcoin too, not just my country, but I hope all country will be legalize Bitcoin, and I hope bitcoin price always stable.
And I think this is good choose from Russian Government to take this way, because their country also will be get good effect at their financial later.
I think will be many people feel happy to hear this news.

[breeze170]

I hope this isn't fake news and it turns out true. Russia is very big populated country. There are many people in our russian local forums too. I hope they will legalize it and regulate icos so we may see trustable altcoins from Russia.

[Valzador]

this is good news for all of us, because russia is the country that contributes most to the world of crypto currency.

[jondel]

I hope this isn't fake news and it turns out true. Russia is very big populated country. There are many people in our russian local forums too. I hope they will legalize it and regulate icos so we may see trustable altcoins from Russia.

I believe this is not a fake news. And I hope this brave move from Russia will be followed by US and other big countries.
If that happened, we might have strong bull here.

[Herbert2020]

to be honest i will believe this news only when i see them pass the law for cryptocurrencies and not a day sooner. because history proves that the news from Russia regarding cryptocurrencies have always been contradictory and all over the place. one day we hear they are going to legalize it and have no problem with bitcoin and the next time we hear someone saying bitcoin and cryptocurrencies should not even be allowed to exist! of course most of it is news bullshit clickbait but there is sometimes some contradictory views among government officials too which makes it harder to believe anything that comes from them.

[adam1230]

Russia is drawing the future of world economy now. Putin is a smart guy and he really knows what to do.
I think world start to change now after Russia support to crypto Currencies

[Kate Beckett]

I think that the legalization of cryptocurrency market in Russia has more negative than positive consequences. The proposal of legalization of cryptocurrency in Russia is held under the aegis of the fight against illegal money transfers. However, to solve this problem, it is proposed that the state should control crypto-currency transfers. In this scenario, Bitcoin will lose its decentralized nature and will be subject to strict control by the government.

[Rooster101]

By July this current year, cryptocurrencies in Russia will be legalized under a regulatory package called Digital Assets Regulation Bill. This is another legalization under a regulation and many of the countries that legalized bitcoin falls under this method, others combines regulation and taxation. This is nothing new but other countries will surely follow this kind of cryptocurrency management in the years to come.

[Luna0120]

No one knows how the beginning regulation of the crypto market will affect its participants in Russia.The bill is not ready yet and discussions are still underway.

[Hellobx]

It is good news that countries are now ready to legalise the cryptocurrency market.
But countries are looking to tighten regulation of ICO and ICO, which could lead to the disappearance of many worthless ICO tokens.

[katixrecamara]

I hope OP would post the link for this to verify.
Anyway, if this is indeed true, this will surely bring christmas very for us all. This is in itself a success to the crypto community. This will encourage many others to invest in crypto, and prices will surely shoot up.
Hopefully, other countries will follow suit and imitate Russia, among others, that embraces cryptocurrency.
This is going to be a big player for 2018

[Viscera]

I hope OP would post the link for this to verify.
Anyway, if this is indeed true, this will surely bring christmas very for us all. This is in itself a success to the crypto community. This will encourage many others to invest in crypto, and prices will surely shoot up.
Hopefully, other countries will follow suit and imitate Russia, among others, that embraces cryptocurrency.
This is going to be a big player for 2018

I agree One of the Aticipated news this year. Russia is among the biggest Market in the whole world. They have a big conference and part of that G20 country are all invited and more to that they are going tackle the Trade war happening and the adoption of Cryptocurrency.

[yugyug]

Legalising bitcoin in Russia has a good benefit for cryptocurrency world as a whole which make the volume of bitcoin transaction increases but it also give a negative impact of cryptocurrencies in Russia country alone where a so called centralised attempt of bitcoin in that area but the majority affect give us a good benefit at least Putin are adopting the cryptocurrency trend.

[spikyz]

betrayed once and hopefully all is well now

[marydale]

I hope OP would post the link for this to verify.
Anyway, if this is indeed true, this will surely bring christmas very for us all. This is in itself a success to the crypto community. This will encourage many others to invest in crypto, and prices will surely shoot up.
Hopefully, other countries will follow suit and imitate Russia, among others, that embraces cryptocurrency.
This is going to be a big player for 2018

Yep! Maybe he can post the link to which this news came out from.  
Anyway, should this be true it can literally have a domino effect on other countries and may yield good potential for our coins.
You see, this will definitely bring in more investors to the digital currency in this decentralized space.
A victory to our community.

[vike]

But i do not think that it will cardinally change the value of the cryptomarket, but this new is good influence for all people who have invested in crypto 

[PanGiMoon]

As revealed in a report by the Russian parliament’s official publication on March 1, Russian president Vladimir Putin has set a deadline on July 1 for relevant cryptocurrency legislation to be adopted in the country. Russian authorities are planning to pass new legislation that would effectively legalize cryptocurrency markets by summer 2018.

The report specifically points to two draft laws centered on blockchain technology that have been developed so far. Russia’s Ministry of Finance has put the spotlight on legal guidelines for the issuance of initial coin offerings (ICOs) while the country’s central bank has prepared a separate draft law on crowdfunding.

Two authorities have agreed upon the main regulatory moves on cryptocurrencies, save for one major contradiction when it comes to cryptocurrency exchanges operating in the country. In essence, the central bank isn’t keen on retail traders and investors participating in cryptocurrency trading.

A separate bill on digital assets – to be submitted to the Russian Parliament this month – will aim to establish governance rules surrounding cryptocurrency mining. Individual entrepreneurs will be allowed to enter mining pools established by legally recognized entities and “conduct activities to extract cryptocurrencies that do not fall under the criteria of industrial mining,” said Alexei Mostovshchikov, chair of the Expert Council of the Youth Parliament under the Russian Duma.

Aksakov further stressed that both bills, from the central bank and the finance ministry, will be submitted to the chamber this month.


NilecoinTeam.

Legalization is certainly good, but it's frightening that there is a very small group of people doing crypto-currencies that's bad. It is most likely to initially be interested in and explain what and how to then legalize, and so the meaning.

[BayAgapito]

Where did you get this information? could you provide a good source? or it is just another fake news from these speculations in the market,i am sick and tired with these fake news especially those fake ICOs like TON  telegram open network shit which was made billions of dollars but where it is now? probably those who conducted these ICOs are surely has billions of dollars in their pocket.

Lesson,do not expect too much with these news especially the source is not to reliable,or there are no sources at all.

[Angelia46]

Not only Russia, there are a lot of countries are going to legalize encryption currency market, this is a big trend, but some of the fraud of the ICO project may not be able to list on the exchange, so need to avoid these projects.