Russia prepares to legalize cryptocurrency market by July 2018

[hamnghi167]

Everything that the Russian government does should be taken with caution. These guys only think how to become richer and launder their trillions stolen from their own people

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[removebeforeflight]

Heard of this news but haven't heard anything officially from the Russian government. if Russia legalizes crypto currency then I think the friendly nations of that countries would also accept crypto currencies for trade and make crypto as a legal tender. I think there is much possibility in this news and we need to just wait for the official announcement this month.

[target]

Heard of this news but haven't heard anything officially from the Russian government. if Russia legalizes crypto currency then I think the friendly nations of that countries would also accept crypto currencies for trade and make crypto as a legal tender. I think there is much possibility in this news and we need to just wait for the official announcement this month.

Makes sense to me if they major projects come from them then I don't doubt the start of making crypto being adopted massively come from them. ETHER is from Russia which now dominates the platform race. One that is also coming to a new stage is WAVES, the developers of these platforms are Russians. I have also read a publication several months ago about Putin aims to disrupt economies thru crypto.

[ityandsyn]

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.

      It is always nice to hear from a country that are willing to builds a legislation about the cryptocurrency,and there are two countries in Europe which are very solid of supporting Bitcoin and Altcoin, the first is France and Second is the Russia and this is really a big development of crypto industry, and hoping that this will help cryptocurrency rise again .

[frirstfootonthemoon1989]

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.

[lovewatchingfilm]

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.

[manbota]

I believe that such changes can be a very useful step for the world of crypto and Russia itself. But it is still hard to believe that such changes will occur, at least in the coming years.

[ngocnga0051]

crypto-currencies will become legal all over the world over time. I think this is what the market needs. doing this will completely change the fate of krypton. I hope that happens as soon as possible.

[myortvyje]

Looks like Eth will moon soon, it indicates that russia love eth and Vitalik Buterin. By implementing regulation in russia will make impact in CryptoWorld. A lot people in russia will adapt to it's new technology. Maybe they will lauch more ICO after that and those ICO mostly real. I will watch this and what happened after july 1.

[losiva]

Where is the source of the news so that I can read more about it and follow up on it, If this really comes true, it will be a big news to the crypto space.

[Cryptoguru274]

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.

This is a welcome development for the adoption of cryptocurrency and the general development of cryptocurrency in Russian and the impact on the economy. If all other major economies could follow the steps taken by the Russian governement I think the world will know the benefits of the cryptocurrency blockchain technology.

[olamidey]

Heard of this news but haven't heard anything officially from the Russian government. if Russia legalizes crypto currency then I think the friendly nations of that countries would also accept crypto currencies for trade and make crypto as a legal tender. I think there is much possibility in this news and we need to just wait for the official announcement this month.

I'm are people don't know their is a coin backed by the Russian government. It's over $10,000 in price with less then 10 in circulation. There ready to do what other countries are scared of doing. Let's see as it goes.

[karthcrypt]

There is always uncommon  and unconfirmed reports of Russia nationalising (pun intended)  cryptocurrency!  Russia is a control state and I doubt if they will ever let their citizen enjoy freedom that cryptocurrency brings!

[alexandermr091]

For me I don't believe in any thing Russia is saying about the Cryptocurrencies unless they implement it first, this is not the first time of seen news like this concerning Russia but at the end of the day won't be true, the only country that I like is Japan they always keep to their words.

[Veter2000]

There is always uncommon  and unconfirmed reports of Russia nationalising (pun intended)  cryptocurrency!  Russia is a control state and I doubt if they will ever let their citizen enjoy freedom that cryptocurrency brings!

Almost the middle of July, and no news about the adoption of this package of law has not yet been heard. At the same time, the President of Uzbekistan actually legalized cryptocurrencies and released all transactions with them from taxes.

[ternyabin]

There is always uncommon  and unconfirmed reports of Russia nationalising (pun intended)  cryptocurrency!  Russia is a control state and I doubt if they will ever let their citizen enjoy freedom that cryptocurrency brings!

Almost the middle of July, and no news about the adoption of this package of law has not yet been heard. At the same time, the President of Uzbekistan actually legalized cryptocurrencies and released all transactions with them from taxes.

I hope that Russia will look at the experience of neighboring countries and will create a law that completely legalizes the currency and all operations with them in their country. At least I really hope so. 

[SuperP]

This is very interesting news but as for me the crypto market will not change much in connection with this 

[Vampirepro]

" 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. "

Oh Thanks, government. Thanks for "allowing " me to join a pool. Where can a get a license to calculate sha256 if I want to do it my self?

I find it hilarious that the free market / free people invent something liberating and then government's around the world step in to "issue" licenses. Basically certificates to show you pay protection money.

This will just drive mining out of Russia.

[Sevarchik]

In russia all very hard, he can change deadlines many times in the future.
One time is happened already.
There is telegram blocked how crypto will be regalized i dont know

[EducoinVietnam]

In fact, such changes could be truly wonderful news for the whole world crypto. Yes, and Russia could get an additional stimulus to development.