Russia doesn't wants its citizens earning with cryptos

[sgenuine]

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.

Actually, Putin has said recently that he wasn't going to ban crypto in Russia. It is not allowed to pay with crypto, but russians still can trade and make money on it. On the other hand, it is obvious that authorities are not very excited about crypto as it gives financial freedom do citizens and as a result it is difficult to manipulate people.

[uneng]

Being optimistic that was the opinion of only one official of the russian government. Even inside totalitarian regimes there are different opinions which are gathered by the central leader and his closest council in order to reach the most benefical solution (or regulation) for the regime. I believe russian government isn't fool and at the right time they will adopt crypto currency just like any other normal country, because they will profit from it after all through taxes and economical boost crypto currencies can generate for the country.

I would compare the currently crypto adoption impasse to the capitalism adoption by communist regimes, which was inevitable.

[zaesvlas]

Russia is a country where they want to control everything. It is rather difficult to track the income on cryptocurrency, so they want to do something about it.

[so98nn]

I hardly see this as a problem for the russian peeps or may be peeps at any corner of the world. By now, btc has reached every corner of the world (directly/ indirectly) due to it's nature. Being on the blockchain has given it deep routed existence which no government in the world can change. In fact most of them are just banning the crypto by means of stopping its purchase through their bank accounts directly. There are million more ways to get into the crypto. You have cash, you exchange it with the foreign nationals and they will transfer the crypto to you pseudo anonymously over blockchain. Work done properly! I seriously think it is a problem for them. Even in my country peeps are using p2p platform on daily basis. The p2p even surpassed the local government by registering its domain to the foreign land with its offices off shore thus no local government can interfere with them. Since all the work is over the internet they hardly get hampered by local authorities. So tell me something new about it, bitcoin is inevitable its gonna reach everywhere.

[Ararbermas]

Rusia believe that cryptos has a value but cannot be used for oil trade, that's all!. wherein there's no such issue when it comes to that country, although its not yet supported by anything base on my research but guess what it can be use already for payment. So for that reason i believe soon rusia will follow what El Salvador did on crypto because they're cryptp friendly as well obviously.. So what you have here mate is totally fuds.

[dupee419]

In another interview recently, Putin did mention crypto and how important its value can be, just not for trading 'oil' which I don't really understand but from his first statement wherein in he knows the value, he definitely knows that the people of Russia will benefit a lot from this, and knowing Russia, they won't lst their people profit without them actually taking profit as well.

link - https://www.cnbc.com/2021/10/14/russias-putin-says-crypto-has-value-but-maybe-not-for-trading-oil.html

[Sanitough]

Rusia believe that cryptos has a value but cannot be used for oil trade, that's all!. wherein there's no such issue when it comes to that country, although its not yet supported by anything base on my research but guess what it can be use already for payment. So for that reason i believe soon rusia will follow what El Salvador did on crypto because they're cryptp friendly as well obviously.. So what you have here mate is totally fuds.

I really believe that what's in a thread is a big FUD. I have read the news before telling about how Putin believed the value of crypto but its just that it cannot be used for oil trade. Hopefully, Russia will soon to accept crypto knowing crypto has already been widely famous in their country and it could mean a lot of profits if the government will support it not just for individual's economy but for the country's economy growth as well. I know crypto will create more developments in a country and this is one of the reasons why even big countries have been interested in crypto particularly bitcoin.

[Wildwest]

This kind of response should not be followed, logically being an investor is everyone's desire to add income so officials like this should consider the economy of society, now we have seen many societies whose economies are changing because of investing in the crypto world, so banning is a big mistake because everyone has their own way to earn money, Putin's previous statements guided the Russian people to participate in the crypto world.

[andriarto]

This kind of response should not be followed, logically being an investor is everyone's desire to add income so officials like this should consider the economy of society, now we have seen many societies whose economies are changing because of investing in the crypto world, so banning is a big mistake because everyone has their own way to earn money, Putin's previous statements guided the Russian people to participate in the crypto world.

in this thread russia has nothing to say against cryptocurrencies, but it does not improve the status of crypto in the country. The possibility for crypto legalization has not yet been seen in that country, but I think people can still invest in crypto at their own risk, without any protection from the government. hopefully with the rapid development of crypto, will change the government's decision

[molsewid]

I really believe that what's in a thread is a big FUD. I have read the news before telling about how Putin believed the value of crypto but its just that it cannot be used for oil trade. Hopefully, Russia will soon to accept crypto knowing crypto has already been widely famous in their country and it could mean a lot of profits if the government will support it not just for individual's economy but for the country's economy growth as well. I know crypto will create more developments in a country and this is one of the reasons why even big countries have been interested in crypto particularly bitcoin.

It's another fud to crypto platform but like it was used to there's no big effect on the platform because despite of many fud arises crypto platform keep on growing. However, this kind of announcements of Russia made a prohibition to its constituents who wants to invest and earn in bitcoin or any token related in cryptocurrency really affect those citizens to follow their will because whether they like it or not they will need to follow the rules.

[terrorJR]

This kind of response should not be followed, logically being an investor is everyone's desire to add income so officials like this should consider the economy of society, now we have seen many societies whose economies are changing because of investing in the crypto world, so banning is a big mistake because everyone has their own way to earn money, Putin's previous statements guided the Russian people to participate in the crypto world.

in this thread russia has nothing to say against cryptocurrencies, but it does not improve the status of crypto in the country. The possibility for crypto legalization has not yet been seen in that country, but I think people can still invest in crypto at their own risk, without any protection from the government. hopefully with the rapid development of crypto, will change the government's decision

yep, and from the OP's pinned article it is also clear that they like crypto even the adoption of officials there is increasing.
but on the other hand, until now the Russian ombudsman for the protection of the rights of entrepreneurs under Russian President Vladimir Putin is still a priority there and indirectly there are still restrictions even though they can still adopt crypto.

[BIT-BENDER]

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 don't think the Russian citizens should be scared about this and their government, am from africa and my government had tried this, (I don't understand why government stifle the progress of it's citizens in crypto-currency) but what I learnt from when my government tried it was the true definition of how crypto-currency is decentralized, even in russia, the citizens can still be crypto-currency enthusiast without being scared of Putin or the government.

[lovesmayfamilis]

There is a somewhat misleading discussion here. Russia is well aware of all the advantages of cryptocurrency. But to fully legalize cryptocurrency in the country, all incomes of citizens must be taxed. Taxation itself is beneficial to states, and Russia is no exception.
But until the law on taxation of digital assets is fully enacted, it is useless to wait for the country's adoption of cryptocurrencies.

[Sirait]

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.

if this is not said directly by the president of Russia then I will not believe it 100%. anyways I've seen in a news post that wrote that the president of Russia officially said support crypto so I won't just believe this news.

[AakZaki]

Regulations like this will certainly annoy crypto users in Russia, because we know Russia is a fairly large crypto user. Even Russia is becoming a pretty big bitcoin mining center nowadays.
Either the news is just an alibi or is it true about the regulation prohibiting its citizens from earning from crypto.
this is in stark contrast to the early regulations that accepted crypto's arrival well.
Maybe the Russian government will tax it but in a different way later.

[kryptqnick]

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.

Yeah, I don't think Russia's fighting cryptos because lots of people use them there and conducting various crypto-related operations. But careful words of Putin recently, and more cautious and slightly anti-crypto words of Marinichev set the general tendency that might eventually grow into more negative actions. Well, another win for Ukraine in the hybrid war, since Ukraine has been bullish about cryptos for a while and currently has a long-term plan of fully legalizing crypto operations, making both trading and using cryptos as payment fully legal (not it's in the gray area, sort of). The idea is to adopt cryptos and impose favorable regulations to boost the economy. More on this here.

[shield132]

What kind of a logic is this? Why wouldn't they want their citizens to make money through cryptocurrencies? There is nothing wrong in this. I assume that they are hearing about the "investor" word for the first time in their life. Otherwise, I don't find this reasoning logical. People are free to make money in whatever thing they would like. They can choose regular professions or they can do different jobs.

But if this is about the volatility of this market, then things change a little. But still, I don't think that it is the right thing to do. You shouldn't restrict people like this. You can solve this problem by imposing tax on cryptos. It would be a win-win situation also.

There is no logic behind this. Just visit the Russia and then visit the USA or Europe, you'll see a clear difference. I have many young friends in Russia and all of the hates the politics of Putin. There is corruption, bad police, bad quality of life in Russia and I have lived once here, have never clearly seen from Putin that he was doing something good for this country. Moscow was the only good place to live in Russia, other countries (most of them) are just abandoned.

Russia isn't rich, well, it's better than most of the countries but again, everyone, see the statistics, it's not that good and I have no idea why you have to lock the way of earning money, especially when you haven't built a super heaven place.

[Slow death]

According to him, Russia doesn't want its citizens to earn money through cryptocurrency...

i keep saying that russia has no intention of being bitcoin friendly because the russian government regime is similar to the chinese government regime, just look at statements from russian government members who i realized they dont want people to russia earn money with bitcoin, we are talking about a country where the position suffers and where there are no freedoms, of course you would not want bitcoin

[nelson4lov]

Thanks to the permissionless and censorship-resistant nature of bitcoin, Russians can frictionlessly continue their interactions with the ecosystem, no matter how severe and restrictive totalitarian regulations may be. Generally, the lack of clarity of regulations or expansion of prohibitive measures is positive for the natural growth of the bitcoin economy because, in such an "unfortunate" case, people have to make direct transactions in bitcoin without having to reveal their identity through different KYC/AML procedures. Moreover, peer-to-peer fiat on/off-ramps are still there, voluntary exchanges between individuals are not subject to government regulations.

True that. The unclear regulatory in Russian crypto is a win for Russian crypto enthusiasts because they don't have to subject themselves to compulsory KYC services in order to access crypto. However,Russia government is just delaying the inevitable. At the end of the day, they would have to integrate crypto into their systems since it would help restructure a lot of things like governance, DAOs, etc.  Placing bans on crypto would only motivate people to find out what government is trying to keep away from them.

[7788bitcoin]

~
Actually, Putin has said recently that he wasn't going to ban crypto in Russia. It is not allowed to pay with crypto, but russians still can trade and make money on it. On the other hand, it is obvious that authorities are not very excited about crypto as it gives financial freedom do citizens and as a result it is difficult to manipulate people.

There are always conflicting news regarding this and most of the time these are just rumors as i am not aware of any law that are stopping users from earning a profit and there is no law prohibiting users from trading. Most government does not like their citizen having financial freedom as they wanted to control everyone but the amount of click bait news is a common theme in the market.