Investments, Offshores, Foreign Trade – Russia Planning for Crypto

[mihika]

With regulations on the horizon, high-ranking officials in Russia have come up with ideas on how to harness cryptocurrencies when, hopefully, they are finally legalized. The need of finding ways to circumvent sanctions on several fronts seems to be the main incentive for the ingenuity in the corridors of power in Moscow.

https://news.bitcoin.com/investments-offshores-foreign-trade-russia-planning-for-crypto/

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[bitChipper]

Seems to be happening in other countries as well, Iran has recently shown interest in crypto to bypass sanctions.

https://www.coinstaker.com/irans-clever-use-cryptos-bypass-sanctions/

This news piece (similar news piece) was published on forbes as well so it shows that they have gained internationally recognition on their intentions. Now whether or not these countries will be successful in using crypto to get around sanctions is another story. History shows though that public blockchains can easily be analyzed and used against people, what's interesting about the article you posted is that they are trying to use an "encrypted schema".

The article goes on to recognize Iran and Venezuela as well like I said, but what about this encrypted schema for investors, could countries soon start adopting privacy coins like Monero or Zcash for investment? Time will tell.

[LateMoveR52]

There seems a competition between nations to prosecuting  cryptocurrency. Though it is still confusing for many nations to invest but staying away will also not help if others adopt the way so it will a drawback for them. Many nations have taken steps,  among them Singapore, Hong Kong, Estonia and Switzerland is notable they becoming crypto powerhouse.

[Billgates710]

There are so many countries which have legalized crypto currency. I'm happy that Russia is becoming one of them. Foreign trading or offshores now gradually bring success to the economy of the country.

[cryptorampage963]

Day by day crypt market is getting popular also it is confusing that they will use this for property or for different case based on this recently a article is published by Forbes about this news.

[cryptoking252]

I think Russia is taking a good initiative. Russian government is thinking of imposing regulations on even smaller transactions of cryptocurrency to avoid criminal activities. According to the new proposal submitted by Andrey khrapov, transaction starting from 600,000 rubles must be monitored by Russian authorities.

[AutisticKid007]

It has been getting attention internationally on a recent article in Forbes. Although it is something to rejoice about, but the fact that will they able to use crypto properly or not is another different case. The article has a lot of other issues as well, but until the right time comes, it will be tough to comment on it.

[kabir ullah]

There is a wish of being crypto-nation is seen in many nations. As of recent market of cryptocurrency it matters. In the long run the countries with knowledge of cryptocurrency and its adoption will take the country few steps ahead and it will be a potential use of their value for wealth.

[enellf]

Legalized adaption of cryptocurrency is just a matter of time as of todays assumption and the possibility is increasing day by day. Many nations are interested in this digital currency. Of course it is not a matter of nights  to work. But many nations are think of ligaliizing this.

[MoneyCryptor520]

This is indeed a good thing that crypto is touching all the corners of the world. But the question is whether they know how to use this privilege to its full extent. We have to wait and see for it when the right time comes.

[bitcoindigger71]

Even Forbes have mentioned this too. And it is a good thing that the other countries are showing an interest in crypto. Let's hope they will be able to use it to better the standard of livings in their country and will generate more flow of investments in the market too.

[cryptocamacho4785]

Good to see that there are steps being taken on the expectation of cryptos getting legalized on the near future, that too by a official governing team from Russia. However, the process, in my opinion, solely depends on the international sanction of the crypto trade if the Russian financial parliamentary committee really wants to put the plan to action.

[ChainFish]

The step from Russia is looking more like they are trying to make Crimea the crypto capital of the country and a safe haven for the crypto lovers who want to keep their cryptos safe and sound despite being intimidated by the rules and regulations of their own nations.

[CoinMarKetHW]

With controls not too far off, high-positioning authorities in Russia have concocted thoughts on the best way to outfit digital forms of money when, ideally, they are at last sanctioned.

[WaterSeal]

The plan of Russian financial parliamentary group is yet to be tested against all the international crypto sanction rules so only time can tell how fruitful this step will prove to be for them. But, this event should indicate other countries to get ready for the crypto normalization in near future for sure.

[Actum]

A proposition to transform the landmass into an administrative sandbox for testing crypto and blockchain advancements was made in Russia's parliament in February. The Russian Association of Cryptocurrencies and Blockchain have been chipping away at a guide to actualize a "Crypto-Crimea" plan.

[Muhammad Muneeb]

With regulations on the horizon, high-ranking officials in Russia have come up with ideas on how to harness cryptocurrencies when, hopefully, they are finally legalized. The need of finding ways to circumvent sanctions on several fronts seems to be the main incentive for the ingenuity in the corridors of power in Moscow.

https://news.bitcoin.com/investments-offshores-foreign-trade-russia-planning-for-crypto/

other countries like Venezuela ,turkey , india. iran, are also considering to introduce their own crypto currency and if they decide to launch govt backed crypto currency then value of dollar will effect badly in the market 

[Lisedc]

"Crypto offers all players enormous chances to focus on crypto and its base advances. They ought to rather acknowledge and grasp its 'existence' and utilize it to fortify their own particular political/fiscal future!!
"

[RottenSteel]

This not only happen with russia but also some other country who use crypto as bypass sanction but sometimes this technology formed against people.

[PickwickRock]

recently I have been noticing that as per the time is passing I am noticing that more and more countries are showing interest over cryptocurrency market which is a very wonderful and inspiring news, hopefully very it will become global business