Topic: Russia gives in and considers accepting bitcoin exchange - page 3. (Read 406 times)
It's almost as if they are trying to compete against Ukraine at this point on who's going to be the country wherein Eastern Russia can do their business with when it comes to cryptocurrencies. Russia has a somewhat huge population of cryptocurrency users, and knowing the economic situations of the said country, it really is a smart move for them to just give in and accept that crypto is inevitable, and that people will soon catch up to it and that they just have to build and plan ahead before the massive surge.
Now, they realized the saying, "if you can't beat them, join them". Because as they have seen, no matter what they do to prohibit the use of btc, their people will always find a way how to go around and transact with crypto. So it is useless to ban if there's other way to use it, right? It is better to get at least something from the taxes paid by these crypto exchanges or other related crypto business rather than not getting anything because they are operating in black market. This is why I am positive that other countries like Bangladesh, Egypt, Iraq, or even China will change their position towards bitcoin in the near futture.
https://www.euronews.com/next/2022/02/09/russia-s-government-and-central-bank-agree-to-treat-cryptos-as-currency
From considering a ban to admitting that it is nearly impossible to prevent the use of bitcoin, that is already extended to millions of its citizens that will not stop their trading and holding just for an official ban, the government has chosen a much wiser path, legalise and make sure that the actors of the market are clearly identified and can operate in full compliance with legislation.
EDITED to add: "... and then decides not to".
From considering a ban to admitting that it is nearly impossible to prevent the use of bitcoin, that is already extended to millions of its citizens that will not stop their trading and holding just for an official ban, the government has chosen a much wiser path, legalise and make sure that the actors of the market are clearly identified and can operate in full compliance with legislation.
EDITED to add: "... and then decides not to".
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