Russia to Criminalize Bitcoin Use..

[franky1]

OP and many others have not even read the DUMA drafts from russia...

all it says is that registered businesses of exchange will be regulated and any individual that is exchanging under the pretence of running a business doing exchanges (exchanging amounts deemed more than personal use) would have to register as a money business or get fined (very simplified version)

[Borisov]

Let's see who wins. On the one hand, Putin, who previously stated that it is necessary to regulate the cryptocurrency market and what is the future behind it, and that everything needs to be done to succeed in this market. And on the other hand Nabiullina, the inadequate lady, I do not want to comment. she's insane.

[awawo]

All those actions by the Russian government is just means to spread bad news about bitcoin and way to talk the price down and cause people to lose interest in buying and holding bitcoin and if the government so wish they can said the use of bitcoin as a payment system in it jurisdiction is illegal but that can not stop the use of bitcoin because is decentrazed and at that can't be control by any government or it institutions.

[Akash1243]

This would affect the price of bitcoins for a small period of time just like what happened with China but I doubt that it would have any affect in long run.They are just afraid as they don't want any decentralised currency in their country as they can't control it.I'm sure that after few years there would be news that they're are now fine with bitcoins and after some time again with criminalize bitcoin.

[SaShiRaJaVu]

If this is true by any means,then it is a really big mess as there are some big projects coming from Russia and we might not see them developing further unless they have the capacity to move out of the country which is a big ask,only time will tell what the real outcome will be from major countries and hopefully there wont be any ban.

[hackzang12]

Is this a real news? how can i make sure that's real? Putin wants crypto and they regulated it i don't know why the media keeps on giving false information. They should show the whole world that RUssia is not a criminal,

[petrserebrennikov321]

Supporters of bitcoins can point to a number of advantages: from the ability to use block machines to track other things besides money, to built-in support for smart contracts that are automatically implemented

[so_stupid]

Putin is the president of old views. I think he does not want to accept a new world in which every Russian citizen can earn a decent home.

[BrewMaster]

Putin is the president of old views. I think he does not want to accept a new world in which every Russian citizen can earn a decent home.

why did you just bump a 2-3 months old topic to say this?
not to mention that this news was a big FUD to begin with. there has never been any "criminalization" of bitcoin in Russia ever.

[icaica22]

All actions by the Russian government simply mean spreading bad news about bitcoin and ways to talk prices down and causing people to lose interest in buying and holding bitcoins and if the government really hopes they can say the use of bitcoin as payment system in it jurisdiction is illegal but it can not be stop using bitcoin because it is decentrazed and at that time can not be controlled by any government or institution. If this is true in any way, then it is really a big mess because there are some big projects coming from Russia and we may not see them developing furthermore unless they have the capacity to move from a country that is a big demand, only time will tell what the real results of the big countries are and hopefully no restrictions.

[faceoff97]

Some government see bitcoin as a threat to their economy. There is no denying that bitcoina allow people to ease their illegal transaction. Bitcoin is known to be used for trading drugs, guns and pornographic materials. Bitcoin is not meant to be used for bad but since its feature are advantages to make transactions, then it is used for illegal too. And this makes a government threatened.

[Kotone]

Russian president Vladimir Putin is a bitcoin skeptic who wants cryptocurrency regulations in place “by July 1," according to the official government publication Parlamentskaya Gazeta.The regulations are part of the Digital Assets Regulation Bill, which is expected to set guidelines for cryptocurrency use in Russia.

Separately, the Russian Ministry of Finance plans to introduce a law that will criminalize the use of cryptocurrencies as money substitutes.Elvira Nabiullina, head of the Bank of Russia, said she and the Russian Finance Ministry oppose the use of virtual currencies "as private money and money surrogates,” saying only the ruble can be used to pay for goods and services, Bitcoin.com reported. "There is the ruble, and everything else is a surrogate," she said. Nabiullina said the move to criminalize the use of bitcoin and other digital currencies as money substitutes is to protect the Russian ruble. "This is necessary to protect the ruble as the single legal [means of] payment in Russia," she said.

https://www.investopedia.com/news

Certainly this would be a big blow towards the economy of the cryptocurrency narket and there would be surely a lot of favtors at work here. But, we must not let this bring us down us we should still be strong enought and resilient enough that we can still persevere. Russia is a big country and they might not have been able to see through bitcoin for what its worth. However this moght kust be a precursor and might just be the initial step towards them regulating it and we shall just have to wait and see

[Heartbreakeren]

This goes to show much the governments sees bitcoin as a threat. Because simply, they fear what they do not understand and have no control over.

[Herbert2020]

This goes to show much the governments sees bitcoin as a threat. Because simply, they fear what they do not understand and have no control over.

not at all. THIS only shows two things.
1. people don't look at the date of the topics anymore. they just read the title and spam in it.
2. people easily believe the bullshit FUD rather than bothering to stop being lazy and check the facts.

[Missterio]

Crypto-currencies lead many people into the shadows and give the opportunity to inconspicuously withdraw large amounts of money

[babarian]

I do not care about any news about bitcoin coming from russia country. they just play with bitcoin prices.
and they benefit from the news

[Kakmakr]

People should not over react to news coming from the Russian government, because they are notorious for changing their minds and talking from two heads. The Russian government have been "banning" Crypto currencies for the last 5 years now, if you listen to the media, but the people on the ground are saying that it is business as usual.

The one thing that are guaranteed is that we will never get one single opinion from the Russian government.  

[goymas]

The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes. The Bank of Russia and the finance ministry have previously opposed the use of cryptocurrency in this way, citing that only rubles can be used for payments of goods and services in Russia.The Russian Ministry of Finance proposed last week to “criminalize the turnover of money surrogates,” including cryptocurrencies, Interfax reported. Deputy Finance Minister Alexei Moiseev revealed during Vnesheconombank‘s conference that his ministry has “prepared a draft law on criminal liability for the turnover of money surrogates. This seems to be kinda bad news .

[Ankhesenamun]

The final decision has not yet been made, and all the rumors, statements and speculation are not worth your attention. The government will make a decision that will be beneficial to it.

[Shtamm_oval]

Russian president Vladimir Putin is a bitcoin skeptic who wants cryptocurrency regulations in place “by July 1," according to the official government publication Parlamentskaya Gazeta.The regulations are part of the Digital Assets Regulation Bill, which is expected to set guidelines for cryptocurrency use in Russia.

Separately, the Russian Ministry of Finance plans to introduce a law that will criminalize the use of cryptocurrencies as money substitutes.Elvira Nabiullina, head of the Bank of Russia, said she and the Russian Finance Ministry oppose the use of virtual currencies "as private money and money surrogates,” saying only the ruble can be used to pay for goods and services, Bitcoin.com reported. "There is the ruble, and everything else is a surrogate," she said. Nabiullina said the move to criminalize the use of bitcoin and other digital currencies as money substitutes is to protect the Russian ruble. "This is necessary to protect the ruble as the single legal [means of] payment in Russia," she said.

https://www.investopedia.com/news

So far, these are only words of significant people. When the document with a clear position will be released, we can talk about any attitude of Russia to bitcoin. And human opinion can change a thousand times.