[2014-07-01] Bank of Russia: Bitcoin Should Not Be Rejected

[erono]

http://www.coindesk.com/bank-of-russia-bitcoin-should-not-be-rejected/

Months after the Bank of Russia first broke its silence on bitcoin and digital currencies with stern warnings regarding their potential treatment under the law, regulators have released new statements that suggest the country is further softening its tone on the subject.

[LiteCoinGuy]

i knew it, things will change and bitcoin regulation is a competition in some way.

[passionsurf]

Maybe Russia is going to follow in China's footsteps: ban, no ban, ban no ban, ban ...

[bryant.coleman]

Maybe Russia is going to follow in China's footsteps: ban, no ban, ban no ban, ban ...

Unlike China, Russia has never issued any directives banning banks or other institutions from dealing with Bitcoins. Hundreds of small scale Bitcoin-based businesses are operating out of Moscow and other major cities of Russia.

[Swordsoffreedom]

Maybe Russia is going to follow in China's footsteps: ban, no ban, ban no ban, ban ...

Please no that would be annoying as heck
China Ban oh Russian Ban Chinas Ok now Same with Russia and vice versa

That said it is interesting to see Russia deciding to consider the legality of Bitcoin as a payment system
Related to Qatar considering it as well it could well become the emergent payment system for oil and commodities to replace the US dollar since all countries can agree to trade with it due to the fact it is apolitical in the sense that no government organization controls its transfer.

[zetaray]

Russia wants to weaken the dollar's dominance as the global currency. Bitcoin is a strong candidate.

[Chef Ramsay]

Russia wants to weaken the dollar's dominance as the global currency. Bitcoin is a strong candidate.

That's likely to have something to do with the bigger picture here. But, I'm sure the authorities have been instructed by some of their wealthier and/or more knowledgeable people that they should open the gates so their buddies can get in on the bottom couple of floors.

[Paladin69]

Maybe Russia is going to follow in China's footsteps: ban, no ban, ban no ban, ban ...

They will when the price is too high and some of the old guard still wants in.

[Morbid]

russians have a little obsession with offshores.