Russia's approval of BTC

[LUCKMCFLY]

I see that this is only talk about the adoption of bitcoin, and hypothetical ideas about it, there are no laws and supporting documents, perhaps they will soon adopt laws on cryptocurrency and bitcoin, so it's premature to talk about the adoption of bitcoin and cryptocurrencies in the Russian Federation.

Yes, in fact from the clearest point we could talk about adoption, but in reality we would be talking about the way in which money from different parts of the world can enter Russia, it is no secret to anyone that the immense sanctions that have been tax is like for people to go crazy and that each necessary item of food or necessity is incomparable, because it is obvious that the Ruble fell and that they can have an exorbitant inflation, here through BTC and other cryptocurrencies is how it can move faster money, fortunately through BTC is the safest way to handle money, I have friends in Russia and they tell me that they have never been through a situation like this, that many are against the war, but if you protest they put you in jail.

[Cling18]

Russia's approval of bitcoin might be the worst idea since we are watching Ukraine fighting against the Russians. Since Russia approved bitcoin, there is a chance that Russia would use bitcoin to fund the war and probably there is a high chance that Russia would win the war. Hopefully Russia would not use bitcoin to fund their military or else bad things would happen.

We can't disregard the fact that that scenario could happen but I guess it would be better if we'll focus on the positive side first. It will benefit innocent Russians because they will be able to transact using Bitcoin since they're affected by the banning of Swift in Russia. If this news is true, I hope that they will only use Bitcoin in a positive way and to survive the possible.the economic crisis that might hit them.

[Frengki_cisco]

Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?

Judging from the movement of Bitcoin from day to day, the steps taken by Russia are the right and smart steps in protecting the current ruble against sanctions imposed by other European countries, Bitcoin continues to have good value for now, I'm sure the Russians have no constraint on the value of the ruble, if they stick to Bitcoin.

[Negotiation]

Good move to protect their country there is also experience collaboration with the bitcoin world bulgarian based bitcoin exchange service btc is using their accounts for bank accounts and facilities. It can be said that the largest banks in russia and europe have been given the opportunity to get ample information on new trends in the finance environment.

[FlamingFingers]

Russia's approval of bitcoin might be the worst idea since we are watching Ukraine fighting against the Russians. Since Russia approved bitcoin, there is a chance that Russia would use bitcoin to fund the war and probably there is a high chance that Russia would win the war. Hopefully Russia would not use bitcoin to fund their military or else bad things would happen.

I tend to disagree that Russia approval of bitcoin might be a worst idea, their currency is being depreciated by the Western countries, once they use bitcoin as an alternative the west will have no option than to look for a possible ways to form dialogue, eventually if its totally approved, they might use it to fund war, approval of bitcoin by Russia will place a great impact to bitcoin generally, a developed country approved bitcoin thats a huge plus

[Argoo]

Russia's approval of bitcoin might be the worst idea since we are watching Ukraine fighting against the Russians. Since Russia approved bitcoin, there is a chance that Russia would use bitcoin to fund the war and probably there is a high chance that Russia would win the war. Hopefully Russia would not use bitcoin to fund their military or else bad things would happen.

In Russia, bitcoin and other crypto-currencies have not yet been legalized for free circulation. Most likely, the cryptocurrency in Russia will no longer be legalized due to the fact that they are taking tough measures to ensure that the currency does not leave the country. And cryptocurrencies will contribute to this. The Putin regime, if necessary, can use bitcoin to circumvent sanctions without the official legalization of cryptocurrency. Therefore, they are not interested in legalization itself.

[Abiky]

In Russia, bitcoin and other crypto-currencies have not yet been legalized for free circulation. Most likely, the cryptocurrency in Russia will no longer be legalized due to the fact that they are taking tough measures to ensure that the currency does not leave the country. And cryptocurrencies will contribute to this. The Putin regime, if necessary, can use bitcoin to circumvent sanctions without the official legalization of cryptocurrency. Therefore, they are not interested in legalization itself.

The Russian government can still use Bitcoin "under the scenes" without approving its legal use among citizens. What action will Putin will take towards BTC is a mystery. No matter if Russia approves or disapproves of BTC, it will always be possible to use Bitcoin thanks to its decentralized and censorship-resistant design. Bitcoin doesn't need the government's approval as long as there's a strong community backing it every step of the way. If one government rejects Bitcoin, another one will embrace it with open arms. As long as decentralization wins in the long run, nothing else matters. Just my thoughts

[fzkto]

In Russia, bitcoin and other crypto-currencies have not yet been legalized for free circulation. Most likely, the cryptocurrency in Russia will no longer be legalized due to the fact that they are taking tough measures to ensure that the currency does not leave the country. And cryptocurrencies will contribute to this. The Putin regime, if necessary, can use bitcoin to circumvent sanctions without the official legalization of cryptocurrency. Therefore, they are not interested in legalization itself.

The Russian government can still use Bitcoin "under the scenes" without approving its legal use among citizens. What action will Putin will take towards BTC is a mystery. No matter if Russia approves or disapproves of BTC, it will always be possible to use Bitcoin thanks to its decentralized and censorship-resistant design. Bitcoin doesn't need the government's approval as long as there's a strong community backing it every step of the way. If one government rejects Bitcoin, another one will embrace it with open arms. As long as decentralization wins in the long run, nothing else matters. Just my thoughts

I think that gradually bitcoin will be approved in Russia. For example, I recently used a service known on this forum - Bestchange.org. I wanted to buy cryptocurrency with a VISA plastic card. And in all exchangers where I tried to exchange, I was offered to complete the KYC procedure by taking a picture of the card against the background of the application or standardly a passport with a face. Although a week ago there was no such thing. In other words, the state has already started collecting data on citizens who use cryptocurrency.

[riso2015]

Russia's approval of btc may sound good, but the agreement is not certain, maybe they issued this policy because their country is in an unstable condition because they are still inflating Ukraine, maybe they made this decision because they just want to avoid sanctions issued by other countries, many media that I have read and searched there is no concrete news about Russia's decision on btc, all of that is still gray and the decision is uncertain.

[Rigon]

Which country is permanently approving this bitcoin? Me and all of us have seen Bitcoin from different countries being approved by someone and then not approved again after a while.As before, the Chinese government approved Bitcoin and banded it again. The Indian government has banned Bitcoin and banned it permanently.We want countries to approve bitcoin as they approve it permanently.

[CaVO32]

Which country is permanently approving this bitcoin? Me and all of us have seen Bitcoin from different countries being approved by someone and then not approved again after a while.As before, the Chinese government approved Bitcoin and banded it again. The Indian government has banned Bitcoin and banned it permanently.We want countries to approve bitcoin as they approve it permanently.

What I am seeing here is that those countries who are still banning the crypto market will soon alter their decision as they will be seeing that even though they ban this market, it will continue to proliferate outside their country. As more and more advanced countries are embracing the crypto market, they will question their regulations towards crypto, and they may possibly change their stance towards it.

[Argoo]

Recent news shows that cryptocurrency is banned in Russia, although people are still working in many countries despite the ban. Due to sanctions imposed on Russia by various countries, their currencies have depreciated, resulting in Bitcoin transactions.

The fate of cryptocurrency in the Russian Federation will largely depend on the outcome of its invasion of Ukraine. The hopes of the aggressor country did not come true, Russia was unable to capture Ukraine in a short time, and now it is suffering a military defeat from the Armed Forces of Ukraine. With any outcome, it is almost obvious that Russia will not win this war. If the Putin regime falls under the influence of internal or external forces, and a more democratic government comes to power, then the cryptocurrency in this country has a better chance of being legalized.
However, there are forecasts that after the imminent death of Putin, Russia may split into several, predict up to four independent states. Then the issue of cryptocurrency will be resolved in each such state.

[Scaterbrainn]

The intentions of Russia should not come true. After the invasion of Russia on Ukraine has resulted in cutting off Russia from the global financial system. The sanctions imposed have plunged the Russian Ruble. And now they see cryptos as the hope of securing their financial system. But, that won’t be sufficient.

[wiss19]

The fate of cryptocurrency in the Russian Federation will largely depend on the outcome of its invasion of Ukraine. The hopes of the aggressor country did not come true, Russia was unable to capture Ukraine in a short time, and now it is suffering a military defeat from the Armed Forces of Ukraine. With any outcome, it is almost obvious that Russia will not win this war. If the Putin regime falls under the influence of internal or external forces, and a more democratic government comes to power, then the cryptocurrency in this country has a better chance of being legalized.
However, there are forecasts that after the imminent death of Putin, Russia may split into several, predict up to four independent states. Then the issue of cryptocurrency will be resolved in each such state.

The result of the war will not matter. Russia is the enemy of the west right now and it will stay that way no matter what, and sanctions do not look like they will be off quickly, and Russians will remember this and will remember that the whole world froze their money, so they will always look at bitcoin as a way to overcome that.

They will not end up suddenly being friendly again and buying teams and buying companies and real estate and putting money in western banks. Those days are gone because they have seen it getting "stolen" (by their idea) already and they will never trust them again. Bitcoin will be the thing they use to overcome that even after the war.

[Wimex]

Russia is a country that has the largest reserves of resources that benefit a large part of the world, it is considered the third world power for a reason, its actions against Ukraine have weakened its stability to such a degree that it has to look for alternatives to be able to deal with the sanctions carried out by the EU and the United States, the drastic measures taken by this Russian government strongly affected the ruble and in turn the comforts of its citizens. Putin, seeing himself at a crossroads, decided to involve Bitcoin as a purchase choice for his main exports and in this way be able to survive the blow of these restrictions implemented by governments against

Although I recently made a post related to this topic, where the European Union already took measures to stop any cryptographic transaction, its objective? Possibly to force Putin to stop his invasion

Source:
 https://www.google.com/amp/s/cointelegraph.com/news/eu-bans-providing-high-value-crypto-asset-services-to-russia/amp

[Reatim]

The intentions of Russia should not come true. After the invasion of Russia on Ukraine has resulted in cutting off Russia from the global financial system. The sanctions imposed have plunged the Russian Ruble. And now they see cryptos as the hope of securing their financial system. But, that won’t be sufficient.

Who are you to decide for what is to happen and also the country had their own views and decisions ? Russia will do what they think will  help them out specially this time that there are too much  sanctions .
But Ukraine also decided to adopt bitcoin also .

[Gyfts]

Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?

They were too late in adoption. This will help mitigate effects of sanctions but if they really wanted to be immune from matters related to asset freezes, they should've put their reserve holdings in crypto. Some years ago Russia began dumping USD from their reserves, to the tune of hundreds of billions, but that hasn't done much in saving the ruble because they're still cut off economically.

Crypto isn't the saving grace for Russia. They cannot use Bitcoin to get their way out of this. If they wanted relief, they should've gone down this path years ago.

[tokyohd]

Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?

Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance

Russia has approved bitcoin as a form of money. This is good news for Bitcoin. Hopefully Gradually all countries will one day start giving importance to bitcoin.

[Reatim]

Russia approved bitcoin as a form of money in order to hedge against the Russian ruble's depreciation and the Biden sanctions. What are your thoughts?

Putin is in favor of establishing bitcoin as a kind of money since he is threatening war and Biden's economic penalties will harm the ruble. He might still use bitcoin to transact in the global economy. I'd want to hear everyone's thoughts on this. Thanks for your response in advance

Russia has approved bitcoin as a form of money. This is good news for Bitcoin. Hopefully Gradually all countries will one day start giving importance to bitcoin.

But this is russia mate and not other countries as we knew that they are having sanction here and there meaning that maybe more countries will take out support from bitcoin and crypto jusy not to support what Russian government is imposing now.
I think better to look in the other side and not just for what is in the table now.

[LUCKMCFLY]

If Russian president Putin accept Bitcoin as a legal tender, i think it is because of the problem between Russia and Ukraine, because before now i over heard that Russian country ban Bitcoin before now, maybe from what I'm seeing the country have notice that Bitcoin is one of the options that will liberate them from this economic crisis's that is in line to affect both parties that is in battle line between Russia and Ukraine

true, because bitcoin will not only bring Russia out of the economic crisis but the main role is that it will not make anyone in the world who will be able to embargo them. because it is currently seen in many countries that have started freezing the assets of Russian citizens, both for individuals and even for companies that have assets in the country that carried out the freezing. Of course this will make the Russian economy disrupted because the Russian currency will be difficult to accept, by providing an opportunity to receive bitcoin, there is a solution that can be done from the embargo that has been carried out.

The sudden approval of bitcoin before the war started, I think they only see bitcoin as one of the temporary solutions when sanctions are imposed. Bitcoin is very difficult to help Russia out of the economic crisis, it is impossible. Bitcoin will be better for individuals than Russian government.
Assuming the Russian government accepts bitcoin as legal tender to evade sanctions, the US and Europe will impose bans on the crypto. We need to see clearly that the US is looking for ways to kill the Russian economy so they won't give up any way.
A China bans bitcoin, it probably won't affect bitcoin much, but the US and all its allies ban bitcoin, I think that's a big problem with crypto.

It is difficult to pronounce when there are arguments that are very good, and obviously the natural thing is that yes, it is that BTC is a way out for the Russian government and for anyone in Russia it is, because by removing the swift and any other way of being able the Russians receive money, how could it be done? or in what way? if it is blocked everywhere, only the local internal russian banking system is the one that is not blocked but with more restrictions, the only way is to create a mini-economization where everything is bought and sold through btc, and I think those options Putin must have already taken them.