Russia to Criminalize Bitcoin Use..

[Marlo Stanfield]

The news always seems to be all over the place with regards to Russia and crypto. I remember seeing many things stating Russia and even Putin in particular were trying to be very friendly to crypto technology in general. But there's also stuff like OP which paints a completely different picture. One thing that might be the saving grace of crypto is its potential to move around large amounts of money for Russian oligarchs. That may help them evade sanctions and such. On the other hand, if western governments see this that might give them pause and have them take a harsher stance against crypto. So it's not necessarily a win either way depending on how it plays out.

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[Che454010]

in Russia, the dollars are paid sometimes? why dollar is not considered to be a surrogate? they should be banned! and the ruble to cancel and legalize bitcoin)))

[Crypto Mark]

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

Each country has the right to determine its own country's policies. When judging from history, Russia is often different in view of economic, monetary and labor policies with many developed countries in the world. Although Bitcoin is banned in Russia and China, Bitcoin continues to thrive in a number of developed countries such as Japan, Sweden and some European countries and Canada and America.

[putrisa]

it seems that if making bitcoin crime seems like it is not very good because bitcoin is a very neutral coin and should not be used for bitcoin such a bad action. better bitcoin is used for legal payments.

[uray]

The news always seems to be all over the place with regards to Russia and crypto.

There are many propaganda and speculative news in the market which is really not healthy, the people behind these content just wanted to get a click by making headlines which sounds crazy and way out of line with the actual context, unless there is a notification from the government, it is still a speculative news about the event that they might criminalize the use of bitcoin.

[micher143]

It is real that thru adaptation and legalization bitcoin will be much be successful as a crypto currency in the market but unfortunately some other people trying to use it in improper way which actually cause a harmful effects to others. Bitcoin systems in different country's can have a separate or additional regulations based on their government because at the same time they wanted to atleast controlling it. One of their big issue is bitcoin are can be use in such a illegal activities which is the government  are afraid and wanted to avoid to happen that's why they st some guidelines and regulations in using bitcoin system which is in some part is good to be done.

[kofibee12]

Russian criminalization of bitcoin will lead to a blow in bitcoin price. Most ICO with Russia base won't be able to run successful. It means all major economies will be despising bitcoin

[KingScorpio]

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

i tell you one thing

the nazis have killed 6 million jews over the dominance of their financial system, its not going to be easy and without conflict to decentralise a financial system even if its an unpopular neofeudal elite.

bitcoin is not strong enough for this, its only weakening their defences, and their weapons but for truly decentralising the financial system we have to work substantially better than bitcoin

[Slark]

If rubel was so amazing then it wouldn't be in danger at all - and no cryptocurrency might jeopardise the rubel viability.
The truth is that Rubes is highly unstable currency and the Russian government are scared that stong cryptocurrencies will undermine its weak position.
I don't think we have anything to worry though - AFAI Bitcoin was briefly outlawed in Russia - and this 'ban' didn't do anything.
Russian citizens have a long history of avoiding problematic laws and finding workarounds.

[shalaza]

This is not a good news for bitcoin. A powerful country such as Russia going against bitcoin would be devastating for the bouncing back we have been hoping for,i just hope the negative effect won't start having effect in the following couple of days

[yoseph]

Russian criminalization of bitcoin will lead to a blow in bitcoin price. Most ICO with Russia base won't be able to run successful. It means all major economies will be despising bitcoin

We shouldn’t be sharp to jump into conclusions just yet, Russia isn’t really a strong crypto economy like Japan and the USA, we all know the stance of Putin about Bitcoins some time ago. This legislation isn’t going to make any big dent.

[Antonina]

This is ridiculous. they just confuse people and say all kinds of things when all they are going to do is get rid of the chances that they will be used by their people.

[angchosenone]

This is simply so cracking confounding. they are simply confounding individuals and saying a wide range of stuff when all they are going to do is dispose of the odds that it will be utilized by their kin. They truly aren't effectively help legitimize bitcoins. What they are doing is influencing individuals to feel that they are attempting yet toward the day's end, they will in any case boycott it for individual reasons and plans. In spite of the fact that They say that they are simply securing their kinsmen and their national cash, despite everything I can't inspire myself to purchase that poo.

[hennyjonh87]

 They are gonna do is get rid of the chances that it will be used by their people. They really aren't doing anything to help legalize bitcoins. What they are doing is making people think that they are trying but at the end of the day, they will still ban it for personal reasons and agendas

[fndsr]

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

I think russia has banned bitcoin and of course the country has a strong reason so that make the rules that will make the bitcoin users threatened criminal penalties I think not only in the Russian state it already applies

[Marlo Stanfield]

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

I think russia has banned bitcoin and of course the country has a strong reason so that make the rules that will make the bitcoin users threatened criminal penalties I think not only in the Russian state it already applies

On the other hand you hear so much positive comments and news from Russia about 'blockchain' and such. I think I remember there was even one where Putin made some sort of positive mention.