Topic: Russia Eyes Summer Deadline for New Cryptocurrency Laws - page 2. (Read 309 times)
I don't even know how the market will react to this. If Russia officially makes Bitcoin as an acceptable payment method I don't think it will have a positive or a negative effect on the market. I mean look at our current situation now were almost the majority think that China has banned Bitcoin when the truth is that it is accepted as a payment method in their country, even that FUD still prevails and has cloud the truth from us making the majority think that China a big global power has banned Bitcoin in their country. I hope in the future it will be clear to all of us.
Central banks stands on this draft is common now and not surprising at all. In the end if the Russian government will regulate cryptocurrency in they’re country is beyond our concern, let see what summer comes to the bitcoin or crypto users who will be affected on any negative or positive outcome to they’re own citizens. Let judge the crooks in time, when it pass but until it isn’t just observe and be hopeful.
Russia has already lost a good number of years, due to the opposition of the authorities towards crypto. This is tragic, because many of the best crypto developers are Russians and many of them had to emigrate to other countries during the past few years. Many of the crypto ventures also had to shift their operations outside Russia.
Well countries that are weakened economically and countries that want to keep their wealth and power which is almost all of them, need to take best of the crypto. They can't ignore it anymore and it remains what to do to exploit the current situation. Banks can say whatever they want, but if governments decide to accept they will follow and take some moves to get their piece of wealth.
You're wrong. Governments have an interest in maintaining poverty among people. Poor people are easy to manage. Many government officials secretly own bitcoin accounts. They know what it is and will never allow people to a fair economy. Russia is a totalitarian country. It is more interested in the poverty of its citizens than in democratic countries.
Yeah, let the Russian troll show continue.... I seriously wouldn't be surprised to see this result in absolutely nothing, just like their planned actions and whatnot resulted in absolutely nothing throughout the last years. It would suit them to finally back up all this unnecessary back and forward talking with actions, to take away the uncertainties and to allow crypto to develop further within the legal set of rules it has to abide by. People are ready for it, and the economical entities being part of this ecosystem are ready for it, so they should quit this nonsense and start doing something to make it happen. Time will tell what's going to happen, but don't get your hopes up....
Well countries that are weakened economically and countries that want to keep their wealth and power which is almost all of them, need to take best of the crypto. They can't ignore it anymore and it remains what to do to exploit the current situation. Banks can say whatever they want, but if governments decide to accept they will follow and take some moves to get their piece of wealth.
The motivation that Russian citizens can not assess the risk of investing in cryptocurrencies is absurd. In fact, the Central Bank fears that Russian citizens will invest money in cryptocurrencies because of distrust of the ruble. This can create big problems for Russia's underdeveloped economy.
Interesting how their Central Bank is openly advocating the crypto ban. It's funny how they keep using the excuse that it's risky; let your citizens make their own decision. It's a revolutionary technology which has plenty of upsides and it just so happens that some of their features overlap with banks'.
There also seems to be a lot of violent crypto thefts in Russia, so I wonder if that issue will come up and become a deciding factor.
The market reaction for Russia's case specifically should be somewhat subdued, given their rather small trading volume. I'm not expecting a massive jump for positive news nor a massive slide for negative news. It would still be better for all of us for them to reach a favorable conclusion though.
There also seems to be a lot of violent crypto thefts in Russia, so I wonder if that issue will come up and become a deciding factor.
The market reaction for Russia's case specifically should be somewhat subdued, given their rather small trading volume. I'm not expecting a massive jump for positive news nor a massive slide for negative news. It would still be better for all of us for them to reach a favorable conclusion though.
Russia is reportedly hoping to pass long-discussed new cryptocurrency legislation by this summer.
Published today, a report from Russia's Parliament Newspaper, the official publication of the state's legislative body, says that the schedule for a date of July 1 has been ordered by Russia's president Vladimir Putin.
Currently, two draft laws on cryptocurrencies have been proposed from the Ministry of Finance and the Central Bank of Russia, the report indicates.
While the majority of the two drafts have reached a consensus regarding crowd-funding using cryptocurrencies, they still reportedly take contradictory stances on the status of cryptocurrency exchange operations.
As reported by CoinDesk, Russia's Ministry of Finance released a draft of its legislation last month, which seeks to put thresholds on initial coin offerings (ICOs) in an effort to allow fund-raising activities to continue in a regulated environment.
However, the report indicates that the central bank does not wish to give domestic investors legal exposure to cryptocurrency trading.
"The Central Bank is against the legalization of this type of digital currency (that can be exchanged), since in this case, citizens can start actively investing in cryptocurrencies, not taking into account possible risks," said Anatoly Aksakov, chair of the State Duma Committee for the Financial Market.
Aksakov said that both bills will be submitted to his chamber this month for consideration.
https://www.coindesk.com/russia-eyes-summer-deadline-new-cryptocurrency-laws/
This year should be the year of crypto regulation in major countries, which do you think will be the market reaction?
Published today, a report from Russia's Parliament Newspaper, the official publication of the state's legislative body, says that the schedule for a date of July 1 has been ordered by Russia's president Vladimir Putin.
Currently, two draft laws on cryptocurrencies have been proposed from the Ministry of Finance and the Central Bank of Russia, the report indicates.
While the majority of the two drafts have reached a consensus regarding crowd-funding using cryptocurrencies, they still reportedly take contradictory stances on the status of cryptocurrency exchange operations.
As reported by CoinDesk, Russia's Ministry of Finance released a draft of its legislation last month, which seeks to put thresholds on initial coin offerings (ICOs) in an effort to allow fund-raising activities to continue in a regulated environment.
However, the report indicates that the central bank does not wish to give domestic investors legal exposure to cryptocurrency trading.
"The Central Bank is against the legalization of this type of digital currency (that can be exchanged), since in this case, citizens can start actively investing in cryptocurrencies, not taking into account possible risks," said Anatoly Aksakov, chair of the State Duma Committee for the Financial Market.
Aksakov said that both bills will be submitted to his chamber this month for consideration.
https://www.coindesk.com/russia-eyes-summer-deadline-new-cryptocurrency-laws/
This year should be the year of crypto regulation in major countries, which do you think will be the market reaction?
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