Russia doesn't wants its citizens earning with cryptos

[michellee]

We do not have to be surprised to see if Russia does not want its citizens to earn money through cryptocurrency because they think it is hard to control the people involved in crypto. Even with regulations, it will still be hard to control their people because they can use VPN to keep connected to crypto. But apart from that news, I do not think that Russia will ban crypto as we see many Russian people still working on the crypto projects and hopefully, their government will still allow their people to make money from crypto.

[tyz]

It is a sign of all totalitarian regimes that they want to control the population in all areas. Those who use or earn Bitcoin make themselves independent of the national currency and the national monetary system and weaken it at the same time. That is why Putin cannot be interested in the Russians using alternatives to the totally controlled Ruble.

[masphie]

If it prohibits its people from earning income from buying and selling cryptocurrencies, it means that all types of online gambling must be stopped as well.

[maju69]

If it prohibits its people from earning income from buying and selling cryptocurrencies, it means that all types of online gambling must be stopped as well.

Is trading crypto with gambling the same category? I don't think it's included to be banned. Perhaps Russian regulations have a different point of view and application to crypto. They are concerned about a significant financial shift from banks to crypto.
Even Russia has many crypto projects like the Waves Exchange if I'm not mistaken they dominate in Russia so actively. It is clear that the regulations of the Russian government will be very difficult for them to accept. Even other crypto projects provide great opportunities for Investors to enter. Just because you can't control it, why not provide certain conditions so that it can't be banned.

[avikz]

Dmitry Marinichev, a government official under President Vladimir Putin rule revealed in an interview that the country's regulatory position towards cryptocurrency will largely stay prohibitive. According to him, Russia doesn't want its citizens to earn money through cryptocurrency so, regulation will mainly stay the same despite the increase of crypto interest in the country.

This is basically more of the same. Russia trying to tackle cryptos while blinking an eye at the same time.

Not really a shocking news! Last year I believe, Russia placed a rule where they said that crypto miners can continue to mine but they can't receive the mining reward in cryptos. That means you can breathe oxygen but you can't exhale Co2. Hilarious!! Isn't it!

But a communist country is like that only! You can draw examples from China and North Korea. Communists know how to suck the blood without saying that they are sucking the blood! In my personal opinion, Taliban and Communists are same, just the weapons are different!

[Alanaz]

This is going to be a pretty controversial policy especially for friends who are in Russia today.
because what I know is that Russia is one of the countries where a lot of its citizens are in the crypto path.
and when a statement like this exists and the policy has been set then maybe the case will be like China today

[romero121]

Dmitry Marinichev, a government official under President Vladimir Putin rule revealed in an interview that the country's regulatory position towards cryptocurrency will largely stay prohibitive. According to him, Russia doesn't want its citizens to earn money through cryptocurrency so, regulation will mainly stay the same despite the increase of crypto interest in the country.

This is basically more of the same. Russia trying to tackle cryptos while blinking an eye at the same time.

Not really a shocking news! Last year I believe, Russia placed a rule where they said that crypto miners can continue to mine but they can't receive the mining reward in cryptos. That means you can breathe oxygen but you can't exhale Co2. Hilarious!! Isn't it!

But a communist country is like that only! You can draw examples from China and North Korea. Communists know how to suck the blood without saying that they are sucking the blood! In my personal opinion, Taliban and Communists are same, just the weapons are different!

You're awesome. The way you've briefed the prevailing stand of Russia government on cryptocurrency usage makes everyone understand it. This is common practice with Russia and other communist countries. The manpower needs to be used rather than the machine power. This is what insisted mostly.

This isn't the first time Russia making such a stand. Years back itself Russia made similar Statement in usage of bitcoin. It adopted the blockchain technology for its effective development of financial infrastructure, but it never legalized or supported crypto by that time. Maybe things will change with time, because everything needs its own time for transition.

[milewilda]

If it prohibits its people from earning income from buying and selling cryptocurrencies, it means that all types of online gambling must be stopped as well.

Cryptocurrency wasnt really created for the sole purpose of making income or would generate profits into those people who do tend to engage with it but instead it was created solely for the purpose of making p2p transactions and earning income is just a bonus or one of its benefits since its been common
adopted widely and if a certain government do really make out some decision that its citizens shouldnt really make out some involvement then its just understandable that they would really be following those orders but due to anonymity of crypto then for sure there are some who sure would really be playing with fire.

[Botnake]

This is going to be a pretty controversial policy especially for friends who are in Russia today.
because what I know is that Russia is one of the countries where a lot of its citizens are in the crypto path.
and when a statement like this exists and the policy has been set then maybe the case will be like China today

The statement of Putin before brings hope to everyone that he believed crypto has a value so does it mean he is now pessimistic about crypto? I guess this is really like China wherein at one day, they will be accepting crypto, and on the following day, they will impose ban about crypto. Sad to say but those who have been residing in Russia who has been holding lots of crypto from his wallet will find it hard to sell the coins because the country itself does not want to support crypto and all its crypto enthusiasts. Hopefully, the government can decide what's best for their citizens, and not for their own desires.

[V-t.Ester]

It’s just words of Dmitry Marinichev. Look on China now. There parliament strictly declares that all crypto-currency transactions are forbidden. So they really don’t want their people to deal with crypto and to have any crypto income. On the other hand is Russia. It has no aggressive politics towards crypto and Russian President is very loyal to crypto. In his recent interview with CNBC he even has said that crypto “has the right to exist and can be used as a means of payment”? ( https://www.bloomberg.com/news/articles/2021-10-14/putin-defends-cryptocurrencies-amid-global-regulation-push ) It proves that they don’t mind of operation with crypto.

[freedomgo]

It is a sign of all totalitarian regimes that they want to control the population in all areas. Those who use or earn Bitcoin make themselves independent of the national currency and the national monetary system and weaken it at the same time. That is why Putin cannot be interested in the Russians using alternatives to the totally controlled Ruble.

If this news is legit, then i think Putin has already lost his credibility. It was said in the previous news that Russia does not mind crypto transactions but now crypto is already in strict prohibition. I might agree on you that Russia is a totalitarian and that they want to take full control of their citizens and all their activities. Crypto may invade the country's monetary system but it will never replace their own currency in the long run. Maybe if they are open to adopt crypto, then it will also help to boost their country's economy which i think they are not aware.

[Shenzou]

Dmitry Marinichev, a government official under President Vladimir Putin rule revealed in an interview that the country's regulatory position towards cryptocurrency will largely stay prohibitive. According to him, Russia doesn't want its citizens to earn money through cryptocurrency so, regulation will mainly stay the same despite the increase of crypto interest in the country.

This is basically more of the same. Russia trying to tackle cryptos while blinking an eye at the same time.

I feel like all the governments in the world that are against using bitcoin and crypto have one of two reasons, either they don't want to deal with the outcome of people using it so they would have to allocate resources and logistics of tracking the ones who are earning from it, or they are afraid of it spreading  corruption and illegal activities due to the anonymous nature of the transactions, and this was the idea that the Russian government kept on saying when they banned crypto some time a go, but with this industry becoming more and more of a mainstream it is inventible that they will have to adapt like any others to its  huge progress and technological advancement.

[Argoo]

I was under the impression that Russia is a crypto friendly country but from the above I can see they aren't, why the government trying to be hard on crypto, till now I don't think I have come across news of Russia being negative towards crypto, too bad for btc lovers over there, they will definitely find it difficult to operate crypto.

Russia has never been crypto-friendly. Rather, the Russian government, headed by Putin, never cared about the people, and this was clearly expressed in this interview by the official. Putin is only interested in his own greatness. Previously, he expressed a different attitude towards cryptocurrency, but when it came time to make an appropriate decision in the text of the law, he turned out to be one of the worst ones that were adopted by states. As long as Russia is ruled by the Putin regime, the people will not have the right to freely use cryptocurrency.

[TopTort777]

What a strange logic. Not allowing someone to earn means not wanting to get tax payment from them. They dont want to have thei budget filled? I think they just dont understand how to control or monitor crypto completely. As soon as they figure that out - crypto will be 100%. And isnt it like they can mine, trade and pay tax right now? What is “doesnt want” then?

It was mentioned that they want only russian ruble to be the only currency. But istn in late 90’ the so called “conditional unit” was used as an additional payment? (That is what they call us dollar). I remember like it was yesterday, that in one of Moscows restaurant menus prices were RUR / C.U. (Conditional unit).

[DapanasFruit]

Well, what can we expect of a country like Russia? Lately, Putin was heard talking that cryptocurrency has some value and can be used in payments and then we all assume that there is hope the government can be allowing cryptocurrency under a strict regulatory framework but right now we don't see anything dramatic in the country as far as cryptocurrency is concern. I am not so sure but in my view Putin is referring actually to the government using cryptocurrency in international transactions and not talking about its people participating in the cryptocurrency marketplace. Still, we are hoping that one day the country can slowly open its market for cryptocurrency and legally allow people to hold and trade cryptocurrencies. They should be proud that Vitalik Buterin has a Russian blood but as of now Ethereum is not yet being allowed within the country. Anyway, the advantage of not having Russia is we can be free from any FUDs coming from the country after we got so tired of receiving many false news coming from China months ago.

[GeorgeJohn]

All this countries that embrace's cryptocurrency before, and right now the same country is now kicking against cryptocurrencies, so what's the regulation there they really want? they should make official announcement that bitcoin is ban there, than for them to portray that using bitcoin for transactions exchange is prohibited, this is the same thing  one of the African country did (Nigeria), by restricting her people not transact with cryptocurrency generally and bitcoin in particular, but it seems today they launched her eNaira digital currency expecting people to use it. Government of Russian can pass order not to earn money through bitcoin, but is very obvious that any order made because of bitcoin can not stand effectively, later run it will be revised  by the government indirectly.

[batang_bitcoin]

Just like China but at least they seem to be too vocal about it. But will they stop their citizens who are likely earning more with crypto? We don't know until they track all of them.
They've always been the same in the past that's more likely on the side of being negative to crypto and we can't blame them. But there's this statement from Putin that can't remove that there's an actual value for bitcoin.

[Alert31]

According to this: https://www.bloomberg.com/news/articles/2021-10-14/putin-defends-cryptocurrencies-amid-global-regulation-push

Putin said: Cryptocurrency “has the right to exist and can be used as a means of payment,”...

Yet: "Still, he cautioned it was too soon to talk about using digital currencies for trading oil and other commodities that form the bulk of Russia’s exports."

So, i assume that (actual) Rusia goverment dont want ban cryptos, but regulate them...

It means Russian can still use cryptocurrency and invest into it but under government regulation. Also people will always find a way on how to earn in crypto because they know how profitable it is even risky. We are lucky in our country that allows us to trade, invest and use cryptocurrency as a mode of payments.

[Coyster]

According to him, Russia doesn't want its citizens to earn money through cryptocurrency so, regulation will mainly stay the same despite the increase of crypto interest in the country

Tbh, it's basically the same thing with many countries today, though some will prolly be more hostile than others, but the thing still remains that they do not like decentralized networks/cryptos, they do not want their citizens to have freedom and control of their funds, neither do they want them to be their own bank, thus that's were such news like this stems from. Having said that, I expect government regulations to continue as far as dex crypto is concerned, but it wouldn't really affect Bitcoin in the long period, all the regulations is just in a bid to dissuade people from using the network and maybe use their CBDC, but quite a lot of people already know the advantages of the Bitcoin network and if the government puts a stumbling block, then they'll effortlessly use P2p service to buy Bitcoin, the government can just contain/control it.

[geegaw]

I was under the impression that Russia is a crypto friendly country but from the above I can see they aren't, why the government trying to be hard on crypto, till now I don't think I have come across news of Russia being negative towards crypto, too bad for btc lovers over there, they will definitely find it difficult to operate crypto.

Russia has never been crypto-friendly. Rather, the Russian government, headed by Putin, never cared about the people, and this was clearly expressed in this interview by the official. Putin is only interested in his own greatness. Previously, he expressed a different attitude towards cryptocurrency, but when it came time to make an appropriate decision in the text of the law, he turned out to be one of the worst ones that were adopted by states. As long as Russia is ruled by the Putin regime, the people will not have the right to freely use cryptocurrency.

Just relying on the Russian government to say that the country is not friendly to the value of crypto is extremely wrong because from quite a few survey indicators of crypto participation and mining, Russia is also standing in the top countries, maybe Putin is more greedy about greatness but behind greatness still needs the approval of people in that country. The lack of freedom here is just a political stance, too many countries have thisism but the problem is that people are still used in the most private way, instead of being severely punished openly.