Russia prepares to legalize cryptocurrency market by July 2018

[D3m1r4wanti]

Russia is one of the most influential countries in the world, so news of bitcoin legalization in this country is very good news. especially the world cup title in 2018 held there so the football fans from all countries can use their bitcoin in Russia as payment transactions

[thewolfinthewide222]

Rumors about this have been going on the net for months now and I do not think that's true! What did not people come up with already! Do not believe everything.

[cchub]

It is hard to know whether such rumours are true or false. There have been so many such rumours... I am sure this could have a strong positive effect on the market though.

[nwanne]

Well July is almost near so we shall wait and see how it goes, and I wish this will come to pass because this will be a big boast to crypto currency and might bring a bull run we have been waiting for.

[milkpeace67]

That’s a great news for sure. Russia is a very big country with crowded population so the number of investors are great there. If that happens it can effect even the worst coin in good way and the market generally.

[123jznjx1892889]

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.

[vike]

This is very good news but I do not think there will be any major changes in the crypto market. 

[losh11]

It is morality material that neighbourhoods are straightaway advance to decriminalise the cryptocurrency market.

[tsagaeff.m]

Yes, legalization is good that's just how it will pass and what exactly will be controlled is not clear...

[BeeDrill]

If this is true, the legalization of the crypto currency in Russia will be a serious step towards the legalization of the crypto currency in the world.

[andrejfilipov876]

On the one hand, it's not bad . but with another in my opinion, just a lot of money passes by pockets of officials . And of course need a piece to bite off )))

[Spaffin]

The first of July has already passed, that is, the control lines established by the President of Russia for the adoption of bills on the regulation of the crypto currency in this country and its legalization, but there is nothing that can be heard from Russia in this regard. I am pessimistic about all these promises that come from officials of Russia. Although everything can be. Admittedly, they have a very good draft law on the regulation of ICO, which generally excludes the possibility of fraud during the ICO.

[jpaul]

These are the kind of news that the cryptocurrency platform needs, some positivity at least is needed as we have had a considerably hard time in the resent past, the Russian economy is one of the he strongest and the country adopting cryptocurrency shall be one of the best news as there will be more people adopting crypto. And that means more investment

[JackMan125]

I am unsure what to believe

[rairaimotobike]

Such news should be taken positively so that more and more countries follow this, if they really start regulating and legitimize crypto then i think it will boost the market and expected bulls seem to be in the market in july/august.

[moonblocks]

This sort of regulatory clarification would be great news if it does in fact have a constructive outcome

Has there been any further reports about the progress of this since July 1?

[Alpha0One1]

This is good news for cryptocurrency as a whole. Mass adoption news is need so we can see more volume in the crypto space.

[veekky]

Hey, i am russian and the only thing they implemented is tax for crypto. They are going to fix price changes before you invest and after you withdraw,but this is weird, what about losses ? Moreover when you withdraw money on your card you have to prove that you earned these money and if you can't, there is 20% tax. It is about all transactions between card holders in russia and not only about crypto incomes.

[cheezcarls]

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.

For me, I believe that with their decision, no doubt that they will contribute to the upcoming bull run of the cryptocurrency market. From experiencing an all-time low, we are slowly bouncing back. Ethereum climbed as well as the other altcoins in the market. I have a good feeling about this, especially that Russia is a huge crypto market as well. Just my two sats.

[badiako88]

This be a huge for crypto world and hopefully some other countries follows especially support the legalization of the cryptocurrency. It would help benefit not only the community of the one county but also the country the itself.