Topic: Crypto Ban: Russian Regulators do not want Legislators to Ban Crypto - page 2. (Read 300 times)
June 11, 2020, 06:39:34 AM
Russia makes a non-statement about Bitcoin yet again. At this point it's not even worth reporting it, since no actual changes are being made. And on top of that, Russia isn't economically important to crypto, it doesn't have much crypto businesses and people don't own much crypto compared to westerners. Even if Russia will ban Bitcoin, it's no big deal.
June 11, 2020, 06:18:37 AM
It has always been an unsure market for the Russians since their regulators do not want to push for outside cryptocurrencies but has expressed their interest on building their own cryptocurrency. This time, they stated that buying and selling of crypto can proceed but the ones involved in transactions wouldn't be protected by any law, which in my opinion is basically the government saying "you can do your business but only on our terms." It closes down a lot of opportunities in services and businesses opening in the Russian soil simply because of this uncertainty which, IMO can easily be fixed by the Russian government. Perhaps crypto isn't really the top priority of the Russians in the meantime, and has always been for the past 5 years (same with China.)
June 11, 2020, 05:06:37 AM
I do not think that picture is necessary, I think it should be delected as it does not depict bitcoin appropriately and does not fit the bitcointalk community.
Yes, one thing I like about bitcoin and cryptocurrencies is that they can be regulated in a way that will suit the governments by passing appropriate laws.
The Russian government although said buying cryptocurrencies will still exist but not under governmental protection and will be elsewhere, and that crypto-oriented businesses will be banned from the country, I think this should not be accepted, because exchanges will be listed as part of the crypto-oriented businesses. So far the economic ministry of Russia is not in the support, it will even be difficult for Russain lawmakers to acheive the ban.
Can the government achieve a totally cryptocurrency market ?
I read the link and I think you question should be 'can the government create a controllable cryptocurrency market?Yes, one thing I like about bitcoin and cryptocurrencies is that they can be regulated in a way that will suit the governments by passing appropriate laws.
The Russian government although said buying cryptocurrencies will still exist but not under governmental protection and will be elsewhere, and that crypto-oriented businesses will be banned from the country, I think this should not be accepted, because exchanges will be listed as part of the crypto-oriented businesses. So far the economic ministry of Russia is not in the support, it will even be difficult for Russain lawmakers to acheive the ban.
June 11, 2020, 02:26:15 AM
A report coming from Russia has revealed that the country Ministry of Economic Development has frowned against the draft bills which was introduced by lawmakers.
"If the bills are successfully passed, Russia will have its first regulation for crypto and other digital assets which would also ban any businesses facilitating crypto transactions"
The ministry points out that people can still purchase crypto assets elsewhere, according to the Russian newspaper Kommersant, which has got the letter, but the current version of the letters will not allow the government to protect their rights. Crypto-oriented businesses will also be forced out of the region, hurting the economy.
The Ministry argues that the new regulations should take a different approach and work on establishing a 'controllable cryptocurrency market' in Russia.
Source: https://www.coindesk.com/russias-economy-ministry-calls-for-controllable-market-rather-than-crypto-ban
People do not want government to ban crypto and they also want their right to be protected.
Can the government achieve a totally controllable cryptocurrency market ?
"If the bills are successfully passed, Russia will have its first regulation for crypto and other digital assets which would also ban any businesses facilitating crypto transactions"
The ministry points out that people can still purchase crypto assets elsewhere, according to the Russian newspaper Kommersant, which has got the letter, but the current version of the letters will not allow the government to protect their rights. Crypto-oriented businesses will also be forced out of the region, hurting the economy.
The Ministry argues that the new regulations should take a different approach and work on establishing a 'controllable cryptocurrency market' in Russia.
Source: https://www.coindesk.com/russias-economy-ministry-calls-for-controllable-market-rather-than-crypto-ban
People do not want government to ban crypto and they also want their right to be protected.
Can the government achieve a totally controllable cryptocurrency market ?
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