Russian Central Bank Admits “Bitcoin Might Have a Future”

[freee101]

The Russian government and its Central Bank could soon start developing regulations and guidance on how digital currencies are to be approached in the world’s biggest country.
This was announced by the first senior vice president of the Bank of Russia, Georgy Luntovskyi, at the International Banking Congress as reported by the Russian news agency Itar-Tass. Mr. Luntovskyi emphasized that various approaches towards Bitcoin regulation exist across many countries. For example, it was recently legalized in California while remaining completely bannedin China. Luntovskyi also commented on the prospects of Bitcoin in Russia:
“We are proponents of a diligent approach towards Bitcoin. We are monitoring this situation in cooperation with the Bank of International Settlements. It is impossible to deny this instrument, which might have a future.”
In addition, he also mentioned that precedents exist for using such payment systems on the black markets for illegal drugs and weapons. “We will reach a decision on Bitcoin as we get more information,” he said. “Right now, we are studying this issue in cooperation with the government. It is possible that we will come to a decision with regards to legislative regulation at a later date.”
Earlier this year, the Central Bank of Russia issued a warning on using virtual currencies. On January 27, the Bank announced that transactions involving Bitcoin on so-called “virtual exchanges” are speculative in nature, present a lot of risk and are subject to price volatility.
from: http://cointelegraph.com/news/111980/russian-central-bank-admits-bitcoin-might-have-a-future
本文固定链接: 三个硬币 | http://www.3-coin.com/2014-07-02/3909/

[indiemax]

Ha ha! sounds like they don't want to get left behind 

[chaosPT]

I thought russia ban bitcoin already ?

[ljudotina]

I thought russia ban bitcoin already ?

Yeah they said they dont like it, but now they are having second toughts about it now...wait little bit more and Chinese will have epiphany too.

[Beliathon]

I thought russia ban bitcoin already ?

Yeah they said they dont like it, but now they are having second toughts about it now...wait little bit more and Chinese will have epiphany too.

Correct. That's because the plain truth is, Bitcoin is objectively superior in every conceivable way to fait scrip funny-money.

You cannot stop the truth from emerging, only swim against the current until you've exhausted yourself.



This is more true now, in the information age, than it has ever been before in the history of our species.

[Ron~Popeil]

I thought russia ban bitcoin already ?

Yeah they said they dont like it, but now they are having second toughts about it now...wait little bit more and Chinese will have epiphany too.

Correct. That's because the plain truth is, Bitcoin is objectively superior in every conceivable way to fait scrip funny-money.

You cannot stop the truth from emerging, only swim against the current until you've exhausted yourself.



This is more true now, in the information age, than it has ever been before in the history of our species.

This is a bottom up movement as well instead of the usual top down bs we get from governments that we create to protect us. Now we have to protect ourselves from our own monstrous creation.

[IIOII]

That's interesting indeed. For Russia, embracing Bitcoin could also help to weaken the USD.
We might be approaching a turning point, where governments realize that they can only loose if they fight bitcoin. Let's see, if other countries will follow Russia.

[LostDutchman]

The Russian government and its Central Bank could soon start developing regulations and guidance on how digital currencies are to be approached in the world’s biggest country.
This was announced by the first senior vice president of the Bank of Russia, Georgy Luntovskyi, at the International Banking Congress as reported by the Russian news agency Itar-Tass. Mr. Luntovskyi emphasized that various approaches towards Bitcoin regulation exist across many countries. For example, it was recently legalized in California while remaining completely bannedin China. Luntovskyi also commented on the prospects of Bitcoin in Russia:
“We are proponents of a diligent approach towards Bitcoin. We are monitoring this situation in cooperation with the Bank of International Settlements. It is impossible to deny this instrument, which might have a future.”
In addition, he also mentioned that precedents exist for using such payment systems on the black markets for illegal drugs and weapons. “We will reach a decision on Bitcoin as we get more information,” he said. “Right now, we are studying this issue in cooperation with the government. It is possible that we will come to a decision with regards to legislative regulation at a later date.”
Earlier this year, the Central Bank of Russia issued a warning on using virtual currencies. On January 27, the Bank announced that transactions involving Bitcoin on so-called “virtual exchanges” are speculative in nature, present a lot of risk and are subject to price volatility.
from: http://cointelegraph.com/news/111980/russian-central-bank-admits-bitcoin-might-have-a-future
本文固定链接: 三个硬币 | http://www.3-coin.com/2014-07-02/3909/

Бoжe мoй!

[LiteCoinGuy]

"For example, it was recently legalized in California while remaining completely bannedin China."


ahhh okay, china banned it again   ?



nice to see the mind shift between the nations: it´s called competition!

[Skele]

That's interesting indeed. For Russia, embracing Bitcoin could also help to weaken the USD.
We might be approaching a turning point, where governments realize that they can only loose if they fight bitcoin. Let's see, if other countries will follow Russia.

In fact with the oil and Bitcoin trading suggestion of Kuwait, dollars are in risk, and Russia is finally realizing that.

If i'm not wrong, this huge country had already banned Bitcoin and so China, Bitcoin makes you change your mind 

[jonald_fyookball]

Yeah, this is really amazing news when you think about it...

Governments not wanting to be left behind to other governments...

If we see more of this dynamic in action, political uncertainty
could diminish, and that could usher in a massive wave of adoption.

wow.

[Beliathon]

Headline in 2-3 years:

Bitcoin Foundation Admits: "Nation-state Central Banks might not have a future"

[LostDutchman]

Bitcoin is not going to weaken the US dollar.

[PalmerLaura]

The Central Bank of Russia is not the entity that declared Bitcoin illegal. It was the Prosecutor's General Office. Asking the Central Bank if Bitcoin is illegal is like asking Congress if they can approve your social security application.

Additionally, the Prosecutor's General Office did not necessary call Bitcoin illegal, it said that if you do use it you will be investigated in order to ensure that you are not involved in any of the illicit activities that have been associated with Bitcoin.

So, it's not illegal but if you use it in Russia you will be treated like a criminal