Russia To Ban Cryptocurrencies

[usekevin]

This is not a valid statement now.Russia accepted the crypto as a payment for the export ,So how this statement will be valid one now.This may lead to the many new mining setup in the Russia.Since Russia is very big country,we can able to get huge amount of investment in the bitcoin.In a long run,we can get a good amount of price pump.

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[zasad@]

The latest news on the legalization of mining and the adoption of cryptocurrency as a means of payment can be found in this article.
https://www.kommersant.ru/doc/5306943
But do not forget that these are regular proposals for the bill, and no one knows yet what the law will actually be.

[Phoenix.NFT]

100% they will not do it, they will only scare you. Like always...

Russiahttps://findnextcrypto.com/russia-to-ban-cryptocurrencies/ is planning to ban cryptocurrencies in Russia. Russia’s central bank proposed banning the use and mining of cryptocurrencies on Russian territory. Russia is the world’s third-largest player in bitcoin mining. Russa legalize cryptocurrencies in 2020 but banned their use as a means of payment.

The Bank of Russia said crypto mining created problems for energy consumption as Russia is one of the largest crypto-miner in the world. Meanwhile, The central bank is planning to issue its own digital rouble. The proposed ban includes crypto exchanges too.

As the crypto market is down falling, it is interesting to see the impact of Russia’s ban ( If implemented) in the crypto world.

[zasad@]

https://twitter.com/cz_binance/status/1515056118392893453?
I can't see the tweet CZ Binance

https://bitcoinist.com/russia-legalize-crypto-payments-proposal-concerns/
The authors of this article refer to https://www.kommersant.ru/doc/5306943
but they do not seem to understand the Russian language or do not understand how laws are made in the Russian Federation.
If one of the ministries finalized the bill, this does not mean that it will become law.

[Spack17]

I don't think such a thing will happen. It's complete bullshit. It is one of the news made to confuse and attract attention. Even if they do interdict, it will be temporary.

[Car22]

I think russia will not ban cryptocurrency,they only scare people as eveyrone country govt did like that.

[Car32]

Russia will not ban cryptocurrency 100 percent sure.

[Car112]

i think not because, Bitcoin is the means that Russia can go to trade on their gas and energy because of the sanctions that includes ban from Swift taking their banks ,so russia will only scare people but not ban cryptocurrency trading.

[zasad@]

i think not because, Bitcoin is the means that Russia can go to trade on their gas and energy because of the sanctions that includes ban from Swift taking their banks ,so russia will only scare people but not ban cryptocurrency trading.

There are a lot of prohibitions in Russia, but they are not respected. Cryptocurrencies are very often used in Russia, and it cannot be banned.
The price of bitcoin and other cryptocurrencies is controlled by manipulators, so cryptocurrencies will not be used in official trading.

[Gozie51]

The Bank of Russia said crypto mining created problems for energy consumption as Russia is one of the largest crypto-miner in the world. Meanwhile, The central bank is planning to issue its own digital rouble. The proposed ban includes crypto exchanges too.

Banning cryptocurrency in Russia won't bring any solution or creating digital ruble won't either. CBDC and cryptocurrency are not on same purpose. If Russia is having difficulty in their economy, they should better stop the war with Ukraine and get back into supply of energy to Europe and their economy will bounce back because the economic sanctions too will be lifted and not to look in the direction of banning crypto mining.

[zasad@]

The Bank of Russia said crypto mining created problems for energy consumption as Russia is one of the largest crypto-miner in the world. Meanwhile, The central bank is planning to issue its own digital rouble. The proposed ban includes crypto exchanges too.

Banning cryptocurrency in Russia won't bring any solution or creating digital ruble won't either. CBDC and cryptocurrency are not on same purpose. If Russia is having difficulty in their economy, they should better stop the war with Ukraine and get back into supply of energy to Europe and their economy will bounce back because the economic sanctions too will be lifted and not to look in the direction of banning crypto mining.

Russia has no problems with the economy. The budget in Russia is in surplus. The state did not have time to spend the entire budget, and invested a lot of money in European and American banks. This money is now frozen.
Russia has huge resources, and Europe doesn't. The Russian economy has no problems, because oil, once, metals, wood, is needed by the whole world. And Europe is in big trouble because they no longer have access to cheap resources.
In Russia, many people live very modestly, but in Europe this standard of living will soon change.
The sanctions only affect those Russians who live abroad and have property there. Approximately 70% of citizens do not even have an international passport for traveling abroad - such statistics.
And the cryptocurrency in Russia is not even in the top ten important issues now.

[UmerIdrees]

The Bank of Russia said crypto mining created problems for energy consumption as Russia is one of the largest crypto-miner in the world. Meanwhile, The central bank is planning to issue its own digital rouble. The proposed ban includes crypto exchanges too.

Banning cryptocurrency in Russia won't bring any solution or creating digital ruble won't either. CBDC and cryptocurrency are not on same purpose. If Russia is having difficulty in their economy, they should better stop the war with Ukraine and get back into supply of energy to Europe and their economy will bounce back because the economic sanctions too will be lifted and not to look in the direction of banning crypto mining.

The stance on bitcoin and cryptocurrencies has changed in Russia after the war with Ukraine.

They are no more banning cryptocurrencies, rather they are now using and promoting cryptocurrencies after the sanctions being put on them by IMF and the western world.

Russian officials approve use of crypto for cross-border payments: Report

[Poker Player]

The stance on bitcoin and cryptocurrencies has changed in Russia after the war with Ukraine.

They are no more banning cryptocurrencies, rather they are now using and promoting cryptocurrencies after the sanctions being put on them by IMF and the western world.

Russian officials approve use of crypto for cross-border payments: Report

They are forced by necessity, they do not do it willingly. Normally, states are going to be against Bitcoin because it threatens their centralized power, but there are cases where they realize that it can be more useful, as it happens with El Salvador with remittances or in this case to bypass sanctions.

[zasad@]

The Bank of Russia said crypto mining created problems for energy consumption as Russia is one of the largest crypto-miner in the world. Meanwhile, The central bank is planning to issue its own digital rouble. The proposed ban includes crypto exchanges too.

Banning cryptocurrency in Russia won't bring any solution or creating digital ruble won't either. CBDC and cryptocurrency are not on same purpose. If Russia is having difficulty in their economy, they should better stop the war with Ukraine and get back into supply of energy to Europe and their economy will bounce back because the economic sanctions too will be lifted and not to look in the direction of banning crypto mining.

The stance on bitcoin and cryptocurrencies has changed in Russia after the war with Ukraine.

They are no more banning cryptocurrencies, rather they are now using and promoting cryptocurrencies after the sanctions being put on them by IMF and the western world.

Russian officials approve use of crypto for cross-border payments: Report

The situation with cryptocurrencies in Russia has not changed over the past few years. You can hear a lot of news that cryptocurrencies will be banned or allowed, but it all seems like blah blah blah, and there are no laws about cryptocurrencies. Shadow markets work great and are a very good way to transfer your assets to any country.

[riqo]

Crypto could not be banned, exchanges could be banned for the region, but there are localbitcoins.com and bitnovo.com, it is very difficult to ban a cryptocurrency, on the  mining topic there will be a solution human always find the way, BTC BTC never sleeps !!!

[Xal0lex]

Crypto could not be banned, exchanges could be banned for the region, but there are localbitcoins.com and bitnovo.com, it is very difficult to ban a cryptocurrency, on the  mining topic there will be a solution human always find the way, BTC [ btc ] never sleeps !!!

To ban cryptocurrency, as you put it, is very possible. I do not know if you have heard, but back in 2014, Maxim Kavjaradze (Member of the Federation Council) suggested creating a separate Russian segment of the network called "Cheburashka". That is, to make it a completely isolated segment of the network without going out into the world. Like North Korea, for example. There you have it, the "cryptocurrency ban", because without the Internet it will be very difficult to deal with cryptocurrency.

[SFR10]

That is, to make it a completely isolated segment of the network without going out into the world. Like North Korea, for example. There you have it, the "cryptocurrency ban", because without the Internet it will be very difficult to deal with cryptocurrency.

I believe you were referring to the intranet ^{[I completely forgot that such a thing exists]}, but I don't think they'd impose such harsh measures just to ban cryptocurrencies ^{[there'd be a lot of collateral damages by going with this route]}.
^{- If they were to implement such a thing, I think there's still some hope [on paper] with some satellite internet providers [Starlink is out of the equation due to having various legal issues in there, but perhaps there might be other alternatives that aren't based out of the US and have no issues with bending some of the rules].}

[YOSHIE]

it is interesting to see the impact of Russia’s ban ( If implemented) in the crypto world.

The news about the banning of crypto in Russia is currently still top news all over the world, as far as I know Russian president Putin 'did not' ban crypto users, assets, exchanges and crypto mining operating on Russian territory, as I quoted in one of the sources.
conclusion:

The law also allows owners of platforms offering exchange services to block any transactions that facilitate the replacement of digital financial assets with rubles.

Putin bans unlawful crypto, for users, exchanges or crypto miners making transactions other than the country's official currency, namely the ruble, Russia is not banning the exchange of crypto or assets like Bitcoin and others, they want to create a Russian legislature about digital currency with rubles.

The real point about crypto vs. Russia as I show below.

long discussions between the Central Bank of Russia and the government regarding cryptocurrency. In addition, this move made the ruble the only legal currency in the country.

From other sources that I have seen, regarding the quote below.

The proposed ban includes crypto exchanges too.

This is not an idea or plan of the Russian government, but an idea and plan that Europe wants to do against Russia, in the form of Russia's war sanctions against Ukraine.

[Xal0lex]

That is, to make it a completely isolated segment of the network without going out into the world. Like North Korea, for example. There you have it, the "cryptocurrency ban", because without the Internet it will be very difficult to deal with cryptocurrency.

I believe you were referring to the intranet ^{[I completely forgot that such a thing exists]}, but I don't think they'd impose such harsh measures just to ban cryptocurrencies ^{[there'd be a lot of collateral damages by going with this route]}.
^{- If they were to implement such a thing, I think there's still some hope [on paper] with some satellite internet providers [Starlink is out of the equation due to having various legal issues in there, but perhaps there might be other alternatives that aren't based out of the US and have no issues with bending some of the rules].}

Of course not. This "intranet" was to be created not only for the reason of restricting the use of cryptocurrencies. There were other, more weighty, reasons. Simply, if such a segment were created (God forbid), it would naturally make it much more difficult to use cryptocurrencies.

[zasad@]

it is interesting to see the impact of Russia’s ban ( If implemented) in the crypto world.

The news about the banning of crypto in Russia is currently still top news all over the world, as far as I know Russian president Putin 'did not' ban crypto users, assets, exchanges and crypto mining operating on Russian territory, as I quoted in one of the sources.
conclusion:

The law also allows owners of platforms offering exchange services to block any transactions that facilitate the replacement of digital financial assets with rubles.

Putin bans unlawful crypto, for users, exchanges or crypto miners making transactions other than the country's official currency, namely the ruble, Russia is not banning the exchange of crypto or assets like Bitcoin and others, they want to create a Russian legislature about digital currency with rubles.

The real point about crypto vs. Russia as I show below.

long discussions between the Central Bank of Russia and the government regarding cryptocurrency. In addition, this move made the ruble the only legal currency in the country.

From other sources that I have seen, regarding the quote below.

The proposed ban includes crypto exchanges too.

This is not an idea or plan of the Russian government, but an idea and plan that Europe wants to do against Russia, in the form of Russia's war sanctions against Ukraine.

According to the law, you can pay for goods only in rubles, but this does not work. Dollars, cryptocurrencies are also involved in trading. It cannot be banned and it cannot be controlled. The digital ruble will not be popular among the population.
A bit of gossip: A lot of foreigners came to Moscow to exchange cryptocurrencies for dollars and euros. The exchanges complain about the lack of dollars and euros.