Proposed Cryptocurrency ban in Russia

[Alisha-k]

Russia, one of the global bodies who practice and engage the use of crypto currency has proposed a ban on it, stating fears as it(crypto) being a threat to digital currencies and also poses a threat to financial stability.
  Vladimir Putin, president of Russia has decided that the  proposed ban will be necessary as it will be able to curb financial insecurities. Mean while, Anton Siluanov, Finance Minister, is hoping there can be ways to iron out disagreements and that a bill be passed into law regulating cryptocurrency.
  He is also of the opinion that should arguments ensue over the proposed bill, arrangements for it will be prolonged but is still hopeful that the President will agree to a consensus.

[gantez]

You need to provide a proof to that ban story because the news going round the internet is that Russia planning to regulate bitcoin and they don't plan this while plan ban https://currency.com/russia-likely-to-regulate-crypto-like-foreign-currencies?



That is a link above to get the information on the regulation, Putin is making plans to regulate.

[pressing207]

There will never be such a ban. It is clear to a fool that all rich people have cryptocurrencies in their assets. At the same time, Russia voices itself well in all aspects of life. Now we will find out what we will do instantly in Ukraine. The whole world will apologize later.
I am sure that the level of intelligence of people is higher than the Fed of America thinks...

[Flexystar]

Yes this is actually wrong I guess. Russia is already on the verge of legalisation of crypto assets. You might be having wrong sources or old news articles with bluffs.

The Finance minister Mr. Siluanov already stated that they are going with public opinion and would be passing the bill to regulate the crypto currencies by the end of year. So they might be planning on how to do it and what would be the tax slots before going in 100%.

This was published in here: Russian Crypto

[pressing207]

Yes this is actually wrong I guess. Russia is already on the verge of legalisation of crypto assets. You might be having wrong sources or old news articles with bluffs.

The Finance minister Mr. Siluanov already stated that they are going with public opinion and would be passing the bill to regulate the crypto currencies by the end of year. So they might be planning on how to do it and what would be the tax slots before going in 100%.

This was published in here: Russian Crypto

It is important to turn on your own brain and understand that the presidents of the countries voice only the generalized thought of their environment.
Do you really think that our Putin is so smart. ? He smiles and rejoices at his grandchildren! He is a gorgeous grandfather to his grandchildren. There are a lot of smart people around.
The Americans and the British do not even hesitate to expose the complete dead and morons outside. At the same time, the public believes them. Such an educated society was developed as a result of globalization and tolerance...
I hope. they heard my sarcasm. (you can't talk about politics here)

[laredo7mm]

Russia, one of the global bodies who practice and engage the use of crypto currency has proposed a ban on it, stating fears as it(crypto) being a threat to digital currencies and also poses a threat to financial stability.
  Vladimir Putin, president of Russia has decided that the  proposed ban will be necessary as it will be able to curb financial insecurities. Mean while, Anton Siluanov, Finance Minister, is hoping there can be ways to iron out disagreements and that a bill be passed into law regulating cryptocurrency.
  He is also of the opinion that should arguments ensue over the proposed bill, arrangements for it will be prolonged but is still hopeful that the President will agree to a consensus.

The news you are referring to is one month old.

The Bank of Russia has proposed banning cryptocurrency trading and mining due to the threat digital currencies pose to financial stability.

Recent news is they are planning to regulate cryptocurrencies and they told that they will not treat cryptocurrency as a digital asset. They want to treat it as a currency but are not sure they are going to make it legal tender or not. source link. Russia has millions of crypto users in their country and they know they can not prevent people from using it. Also banning cryptocurrency could cause panic among crypto investors from there so they make the wise decision.

[Sterbens]

That's quite old news, now there is some news that leads to the legality of cryptocurrencies in Russia. Although all of this has not been legally confirmed on paper, we hope that we will find changes later when the Russian parliament, especially the finance minister, wins in its session against the Russian central bank. I'm not too surprised why until now have not found accurate information regarding exact alignments. Hopefully it will have a positive impact on crypto growth in Russia especially in Bitcoin adoption.

[The Cryptovator]

It looks like OP spreading FUD or worried about regulation. Don't post this kind of sensitive information without a reference link. I didn't hear something like that recently, rather than Russia wondering to regulate crypto which would be a positive move. While the USA allows citizens to use cryptocurrency hence I don't believe Russia will ban it. Otherwise, Russia would be backdated on the digital crypto world.

[teosanru]

Russia, one of the global bodies who practice and engage the use of crypto currency has proposed a ban on it, stating fears as it(crypto) being a threat to digital currencies and also poses a threat to financial stability.
  Vladimir Putin, president of Russia has decided that the  proposed ban will be necessary as it will be able to curb financial insecurities. Mean while, Anton Siluanov, Finance Minister, is hoping there can be ways to iron out disagreements and that a bill be passed into law regulating cryptocurrency.
  He is also of the opinion that should arguments ensue over the proposed bill, arrangements for it will be prolonged but is still hopeful that the President will agree to a consensus.

I am slightly confused with this Russia thing now, Last month I heard that Putin was positive on cryptocurrencies but the central bank of Russia was a bit skeptical about it so they were thinking of banning it, but last week I heard that Russia now has decided to legalize cryptocurrencies and regulate it as normal currencies. After this now I am hearing from you that Russia is thinking of banning cryptocurrencies. I am a bit confused about what actually is going on, why don't we just wait for any official announcement instead of spreading any rumor based on news articles. Because the news I read too was based on so-called "Reports"

[Odusko]

This information is contrary to want is on the news, the Russian President is highly bullish on cryptocurrency contrary to what you posted there was advice from the finance minister but it was negative on crypto but the country is looking into how to regulate cryptocurrency within their domain rather than an outright ban. You will have to share a link to this news to show its realism.

[boyptc]

What is really happening there?

The most recent is that they're already good with cryptocurrencies and there's no ban that will happen. @OP what's the source of this and if it's possible please include.

Sometimes, there a need to verify the information that we want to share with the others because it is confusing and shouldn't mixed with what's the actual news that has been positive.

[mobilestrike]

You need to provide a proof to that ban story because the news going round the internet is that Russia planning to regulate bitcoin and they don't plan this while plan ban https://currency.com/russia-likely-to-regulate-crypto-like-foreign-currencies?



That is a link above to get the information on the regulation, Putin is making plans to regulate.

I also wonder and immediately open the thread and read it but OP not given any link for proof of news. It is already announced that they skipped the plan of ban and they decided to regulate it in the state and to approve it as a legal tender in the country.

[jhonjhon]

You need to provide a proof to that ban story because the news going round the internet is that Russia planning to regulate bitcoin and they don't plan this while plan ban https://currency.com/russia-likely-to-regulate-crypto-like-foreign-currencies?



That is a link above to get the information on the regulation, Putin is making plans to regulate.

Yeah right. Thats what makes me confused.Because as what i have heard recently, Russia has already legalized bitcoin as a currency.

For OP, you should verify the information first

https://www.google.com/amp/s/m.timesofindia.com/business/cryptocurrency/blockchain/russian-government-to-legalize-its-crypto-economy/amp_articleshow/89500364.cms
The Finance Ministry and Bank of Russia have been tasked with drafting the crypto law, who have to present the draft law by February 18.

[el kaka22]

The difference between a great ban and a big regulation is vast. Sure the bad regulations could limit the growth as well, but it would make it legal and difficult instead of fully banned. You could still build stuff there and own crypto there and so forth but it would be not ideal and it would hurt the economy and the crypto growth in Russia will slow down a lot, nearly to halt.

However, banning it completely will be even worse because it means completely stop and that is why I would guess that this current situation is better. Basically, it is somewhere between New York hard regulations and Chinese ban, not great but not horrible at the same time.

[DrBeer]

This event took place on February 18th. Link to the profile resource https://www.rbc.ru/finances/18/02/2022/620f75b69a7947762be3a633 (Google translate translates perfectly)

The Bank of Russia has prepared a bill to ban the issuance and organization of circulation of private digital currency in the country.
The draft law provides for a ban on the organization of the issuance of cryptocurrency, the issuance and organization of its circulation, as well as the dissemination of information about this. The project also prohibits banks and other financial market participants from owning private digital currencies. This ban applies to private cryptocurrencies issued both using Russian infrastructure and issued abroad.

[freedomgo]

You need to provide a proof to that ban story because the news going round the internet is that Russia planning to regulate bitcoin and they don't plan this while plan ban https://currency.com/russia-likely-to-regulate-crypto-like-foreign-currencies?



That is a link above to get the information on the regulation, Putin is making plans to regulate.

Yeah right. Thats what makes me confused.Because as what i have heard recently, Russia has already legalized bitcoin as a currency.

For OP, you should verify the information first

https://www.google.com/amp/s/m.timesofindia.com/business/cryptocurrency/blockchain/russian-government-to-legalize-its-crypto-economy/amp_articleshow/89500364.cms
The Finance Ministry and Bank of Russia have been tasked with drafting the crypto law, who have to present the draft law by February 18.

I guess OP you have been late from the news as Russia has already proposed a bill on legalizing cryptocurrencies and this is even supported by President Putin. You may have been dwelling in the old news, but they have lifted the ban already and now starting to create limitless areas for crypto trading and mining. You may read it here: https://finance.yahoo.com/news/russia-license-crypto-exchanges-tax-101022637.html

[Scripture]

What is really happening there?

The most recent is that they're already good with cryptocurrencies and there's no ban that will happen. @OP what's the source of this and if it's possible please include.

Sometimes, there a need to verify the information that we want to share with the others because it is confusing and shouldn't mixed with what's the actual news that has been positive.

There’s a lot of confusions here actually, because like China they also keep on changing their decisions towards cryptocurrency so we don’t really know what’s real here not unless they make a law legalizing cryptocurrency. Well, there’s an on going big issues on Russia so I don’t think they still have time to focus on cryptocurrency but hopefully, they can have a good decision with regards on supporting crypto.

[batang_bitcoin]

This event took place on February 18th. Link to the profile resource https://www.rbc.ru/finances/18/02/2022/620f75b69a7947762be3a633 (Google translate translates perfectly)

The Bank of Russia has prepared a bill to ban the issuance and organization of circulation of private digital currency in the country.
The draft law provides for a ban on the organization of the issuance of cryptocurrency, the issuance and organization of its circulation, as well as the dissemination of information about this. The project also prohibits banks and other financial market participants from owning private digital currencies. This ban applies to private cryptocurrencies issued both using Russian infrastructure and issued abroad.

This is clarifies with what's the proposed ban. It's for those projects that will build private cryptocurrencies that will step in their country. There's the division and difference from understanding it generally that they'll ban crypto as proposed and with the recent one that they'll make it legal.
It's a step that everyone has to understand that we shouldn't make any conclusion while we're still in question of what are the actual information that we should extract.

[Wexnident]

Wasn't there a recent thread here talking about Russia regulating it instead of banning it? And anyhow, in actual fact from what I found, Putin was actually AGAINST the ban.
Source
It was the Bank of Russia that wanted to ban crypto due to "financial stabilities" but the government of Russia decided against that, and wanted to regulate it instead, which is honestly a good move. Looks like there isn't any exact news about it yet? Mostly about what each side is picking though, to ban or to regulate. Guess we'd see more updates in the upcoming days, since from what others have said, they've drafter their own crypto laws and are talking about it still.

[Ararbermas]

Russia, one of the global bodies who practice and engage the use of crypto currency has proposed a ban on it, stating fears as it(crypto) being a threat to digital currencies and also poses a threat to financial stability.
  Vladimir Putin, president of Russia has decided that the  proposed ban will be necessary as it will be able to curb financial insecurities. Mean while, Anton Siluanov, Finance Minister, is hoping there can be ways to iron out disagreements and that a bill be passed into law regulating cryptocurrency.
  He is also of the opinion that should arguments ensue over the proposed bill, arrangements for it will be prolonged but is still hopeful that the President will agree to a consensus.

after implementing bitcoin as a legal within the country now they want to ban it?  Seems a joke mate!.

And to be honest i don't see any information regarding to that ban issue from Russia.. So i think it will be better if you can  provide source here in your thread  where did you get that information so that everyone can see if its a legit or not.

But wait probably no need, because it's obviously a fake news.. Just imagine they just legalize bitcoin these week and ban it immediately?. Maybe you posted a wrong information about Russia. Lol