Russia prepares to legalize cryptocurrency market by July 2018

[Gaff]

Legalize cryptocurrency all you want, cryptocurrency will not fall into the hands of any government control. Having said this, if the story of  Russia legalisation of cryptocurrency is true, I will say this positive news, is better than negative news!

This is another good news to hear, it seems everyday cryptocurrency makes the world feel its existence and evolution. It shows that it can really make a difference around the globe in terms of earning, trading, investment, even to small sectors, and people from all walks of life can be part of its excellent service and potential. It always has some special offer to look for , and it's good that it's being recognized by other countries already. Whenever cryptocurrency is at its peak, there's more to come.

[ityandsyn]

This report will be a very big event that affects bitcoin. I think this will lead the increase in price of bitcoin, tokens and altcoins. This is a big step in legalizing the bitcoin in other countries because Russia is one of the most influential country in the world.

     It is always nice to hear if one country willing to accept cryptocurrency like bitcoin and altcoin, more especially if they are preparing for legalization of using the different coins, and congratulations to russian investors in crypto.

[cryptoenterprise]

It is very positive that more and more countries take interest in cryptocurrencies and want to legalize it. That means that this is the future and it's not just a bubble as many people outside the community like to think.

[arguelles84]

not heard anything about it and it sounds pretty interesting.I think it would have a positive impact on the situation with cryptocurrencies

[ZBBBB]

I can't even tell if it's good or bad.In General Russia is a peculiar country and any innovations in it can be absolutely negative for people

[daxiake]

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.

Your news can be more informative to all, if you share some authentic sources supporting your news. I googled and found this, it will be interesting to see what regulations cryptocurrency has to follow in order to be accepted by the Russian government. I will appreciate if someone can share more authentic news regarding this debate.

[balrog]

It sounds weird for me . Russia banned telegram few days ago , today I have read that Russia also banned more then 16 millions of Amazon and Google IP adresses and now we are talking here about crypto legalization in july , are you serious ?

[justaminute]

At the moment there are a lot of projects. They have been developed for more than six months. Before July 1, the law was to be passed. It remains not long to wait. I'm not sure that something good will come out of it.

[9000]

It is a regime in Russia, but all these actions are organized by the different persons in administation. Every decision has it's own group of interested persons. Russian banks are working closely with Waves and Universa projects, it means that everything might be really positive for crypto in this particular country.

[Experia]

If Russia will legalized crypto the market will start to grow. If people can recall the market was down when Russia turn thier back on crypto. Since they are planning to make a comeback the market will be having a good growth.

[mobilazy]

For Russia regulate always mean restrict. Assholes from govt start blocking Telegram and thousands of IP which belong to Amazon and Google cloud services. I don't expect anything good coming from them. I'm quite positive that would mean restricting ICOs or if lucky, just limiting investments to 50k rubles (less than 1000$).

[sazon84]

This step Russia does only to control its citizens once again.  And I believe that the main rule that the government will make is the introduction of taxes for all who are engaged in cryptocurrency.  On this law will end.

[Wale777]

I have not confirm this news, what I heard earlier was that telegram has been blocked in Russia but if this is true about Russia government that would be an additional advantage for cryptocurrency because more investors would be coming in and market becoming more robust.  The total effect will be positive and cryptocurrency world increasing marginally

[hieuho381]

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.

wow, that's a very good news for traders like us. The Crypto market will have more whales investing in crypto. Market capitalization will increase sharply in the near future and we should hold the potential altcoin in the future. I will try to accumulate a lot of money to buy bitcoin and wait.

[tomboi]

Russia is a big country. It also has big influences as the centre of many other countries around the world. Finding out that Russia will legalize the cryptocurrency market nearly in July 2018 makes us feel better. It will be a very good news to hear because it hopefully can make other countries follow this decision. It can add the trust in the cryptocurrency world. Of course, we should support this plan and hopefully, it will be coming true.

[Udrujes]

The news is really good, but it seems to me there is some kind of dirty trick. Most likely, a good tax and use it as you know.

[KryptoKai]

Hopefully they keep crypto trading as a legal investment, but ICOs should be regulated. It would mean less scammy ones appearing on the scene, especially ones that have no public team to identify with the coin.

[Bay_Harbour_Butcher]

hopefully this is true, as this will be very good news for the crypto world, especially now that crypto market conditions are starting to improve, hopefully this is not the end of good news, but there will be another good news in the world of crypto

[dimpsk]

The news is really good, but it seems to me there is some kind of dirty trick. Most likely, a good tax and use it as you know.

Just  few days ago they banned Telegram and closed some crypto  sites. Good preparation.

[Veter2000]

The news is really good, but it seems to me there is some kind of dirty trick. Most likely, a good tax and use it as you know.

Just  few days ago they banned Telegram and closed some crypto  sites. Good preparation.

Quite right, while one of the possible reasons for the blocking of telegrams is just the launch of Durov's own crypto currency. This is the path of the Russian authorities. prohibition and blocking of all that they are not controlled by 100%.