And if they don't allow crypto to be used for the payment method, they will allow it in the future because they will see the potential from the crypto that can solve the problem in the payment system. Besides that, we need to give them time to realize the benefit of the crypto as the payment system, so they know by themselves. Sooner or later, the government will allow their people to used crypto for the payment method.
Why exactly would/should a government see Bitcoin as a solution to "the problem in the payment system"? To them, BTC is something mostly out of control and they don't like stuff they cannot control. Especially Russia. The benefits of using digital currencies will switch so smoothly from decentralized cryptos such as BTC to their digital fiat you won't even notice. That's going to happen "later", but at a pace slowed down enough for most not to give a damn anymore - and probably before the world will have a stable law structure for cryptocurrencies..
Topic: Russia legalizing Bitcoin and cryptos but not allowed as payment method? - page 2. (Read 908 times)
August 04, 2020, 10:55:13 PM
August 04, 2020, 09:14:24 AM
And if they don't allow crypto to be used for the payment method, they will allow it in the future because they will see the potential from the crypto that can solve the problem in the payment system. Besides that, we need to give them time to realize the benefit of the crypto as the payment system, so they know by themselves. Sooner or later, the government will allow their people to used crypto for the payment method.
Why exactly would/should a government see Bitcoin as a solution to "the problem in the payment system"? To them, BTC is something mostly out of control and they don't like stuff they cannot control. Especially Russia. The benefits of using digital currencies will switch so smoothly from decentralized cryptos such as BTC to their digital fiat you won't even notice. That's going to happen "later", but at a pace slowed down enough for most not to give a damn anymore - and probably before the world will have a stable law structure for cryptocurrencies.. 
August 04, 2020, 07:13:32 AM
Fomer USSR power house at it again. Today they speak of ban, tomorrow it's debuked and this time they are bullishly pro bitcoin and cryptocurrency. Some politicians are just playing some game and nothing more. All is fine as regards cryptocurrency in Russia.
Big possibilities that there's power behind this act and for sure it's always for benefits that this government are trying to take this call.
Assuming that they are now accepting the use of bitcoin but there's no guarantee that they won't change it at any given time, knowing the nature of
this nation where change is inevitable.
Best thing to do is to keep the flow and play with how you understand this news, traders always looking for possibilities.
Well the Russian government might probably plan to establish a government owned third party BTC to Fiat platform to take advantage of the profit of the said platform. Legalizing Bitcoin will cater their citizen to dive into the Bitcoin market and the prohibition of Bitcoin as mode of payment will render their platform to flourish. And the possible way of knowing the citizen that utilizes Bitcoin since for sure KYC is required on that platform.
August 04, 2020, 04:42:51 AM
Okay so months ago, we thought that they're all set to lay down the axe on Bitcoin and cryptocurrencies in Russia. But right now, lawmakers have passed a bill to legalize cryptocurrencies in their country.
However, there's one section of the bill states that Bitcoin cannot be used as payment method. They do legalize cryptocurrency trading though, but not sure when it comes to crowdfunding, ICOs, etc.
Source: https://cointelegraph.com/news/russian-lawmakers-finally-pass-countrys-major-crypto-bill
Any reactions so far guys?
However, there's one section of the bill states that Bitcoin cannot be used as payment method. They do legalize cryptocurrency trading though, but not sure when it comes to crowdfunding, ICOs, etc.
Source: https://cointelegraph.com/news/russian-lawmakers-finally-pass-countrys-major-crypto-bill
Any reactions so far guys?
If this news is true then the primary aim of cryptocurrency is not been reach, Bitcoin was created to be a means of payment for goods and services, passing a bill that will legalize it in the country and won't permit it to be a means of payment is as good as not having it legalized at all. But will wait on the bill on the Digital Currency as supposed to be passed in time to come, perhaps they will permit payment with Bitcoin and other cyrpto
August 04, 2020, 03:52:09 AM
Okay so months ago, we thought that they're all set to lay down the axe on Bitcoin and cryptocurrencies in Russia. But right now, lawmakers have passed a bill to legalize cryptocurrencies in their country.
However, there's one section of the bill states that Bitcoin cannot be used as payment method. They do legalize cryptocurrency trading though, but not sure when it comes to crowdfunding, ICOs, etc.
Source: https://cointelegraph.com/news/russian-lawmakers-finally-pass-countrys-major-crypto-bill
Any reactions so far guys?
This is the first step towards the conscious use of crypto resources in Russia. As you know, everything is very good with cryptocurrency in Belarus now and it is absolutely legal. I hope Russia will follow the example of a brotherly country, as it has done for many years. As for the legal aspects of use, I believe that there will be several stages of introduction and at each stage the government will explain how the market situation is changing and how bitcoin affects the economy. However, there's one section of the bill states that Bitcoin cannot be used as payment method. They do legalize cryptocurrency trading though, but not sure when it comes to crowdfunding, ICOs, etc.
Source: https://cointelegraph.com/news/russian-lawmakers-finally-pass-countrys-major-crypto-bill
Any reactions so far guys?
August 04, 2020, 03:46:39 AM
Even if this news is true, I would expect further pressure on crypto later on. Russian gov is too tyrannical and corrupt to let such thing as crypto exist without choking it
Where do you read this?
Any government will behave terance compared with those who are struggling with it. That's what any government does.
I do not think that the implementation of this idea will be a problem, but if bitcoin is allowed to be used as a means of payment, then you will be forced to open a Bank account, pass the CUS procedure, or pay through payment aggregators, which will oblige you to pass the CUS procedure. And then you tell me, what's the difference? No state will allow anonymous payments. Currently, anonymous payments in the amount of no more than 15,000 rubles (approximately $204) are allowed in Russia
August 03, 2020, 10:08:33 PM
Fomer USSR power house at it again. Today they speak of ban, tomorrow it's debuked and this time they are bullishly pro bitcoin and cryptocurrency. Some politicians are just playing some game and nothing more. All is fine as regards cryptocurrency in Russia.
Big possibilities that there's power behind this act and for sure it's always for benefits that this government are trying to take this call.
Assuming that they are now accepting the use of bitcoin but there's no guarantee that they won't change it at any given time, knowing the nature of
this nation where change is inevitable.
Best thing to do is to keep the flow and play with how you understand this news, traders always looking for possibilities.
Well the Russian government might probably plan to establish a government owned third party BTC to Fiat platform to take advantage of the profit of the said platform. Legalizing Bitcoin will cater their citizen to dive into the Bitcoin market and the prohibition of Bitcoin as mode of payment will render their platform to flourish. And the possible way of knowing the citizen that utilizes Bitcoin since for sure KYC is required on that platform.
August 03, 2020, 09:15:14 PM
I think it is no problem if Russia legalizes bitcoin and crypto because that can be a way to see the crypto used as the payment method. And if they don't allow crypto to be used for the payment method, they will allow it in the future because they will see the potential from the crypto that can solve the problem in the payment system. Besides that, we need to give them time to realize the benefit of the crypto as the payment system, so they know by themselves. Sooner or later, the government will allow their people to used crypto for the payment method.
I hope they see the potential of this immediately and this is one of the most adopting they ever do into the life of crypto still we are looking forward that there is a lot of countries will adopt this kind of payment so more on cashless we have right now. But still, we cannot remove the fiat currency because this is part of the trade of currencies.
August 03, 2020, 06:23:41 PM
It is just for now that was to be the set up well then at least the Russian government have extended their understanding about the importance of adapting Bitcoin and cryptocurrencies making it legal to their country. It is already a big step to be done by a country and a wish come true for the people who wanted to get engage on using cryptocurrencies but are being afraid and hesitant because of the legalization issue. But since Russia have make it a point to legalize Bitcoin and crypto currency in their country, for sure many people will now be encouraged to get engaged even it is still not allowed for payment method.
Just a step by step process while the government is still assessing the pros and cons of using it as payment method. The legalization is a big step towards full adaption of Bitcoin and cryptocurrencies so right now it is a good news to get contented with.
Just a step by step process while the government is still assessing the pros and cons of using it as payment method. The legalization is a big step towards full adaption of Bitcoin and cryptocurrencies so right now it is a good news to get contented with.
August 03, 2020, 02:09:23 AM
Even if this news is true, I would expect further pressure on crypto later on. Russian gov is too tyrannical and corrupt to let such thing as crypto exist without choking it
Boy, are you 15 years old or what? What kind of foolish maximalism, not supported by anything other than the propaganda of your country? No "if." The bill has been passed, and this is a fact. I am telling you as a Russian citizen. At first, I took this news negatively, but then I saw a couple of advantages. First, BTC is recognized as a legal asset like platinum or gold. He now has official status. Secondly, legalizing BTC as an asset can only be the first step towards its full adoption. There are quite conservative people in the government, so they still need time to understand everything and figure out how to proceed.
August 03, 2020, 01:10:33 AM
I think the main point is they are now allowing the use of the bitcoin which is a good thing they make all of the process easier and less hassle to make transactions or transferring the funds and they don't want right now is using the cryptocurrency as the payment method we all know today this is one of the best things may happen but the problem is about the identity of the user who wants to play with the use of it we all know that we can use now the bitcoin mixers if you want to get your identity hidden to the transactions and they want to avoid this they want to make more transparent so there is nothing suspicious in terms of payment method.
I hope they see the potential of this immediately and this is one of the most adopting they ever do into the life of crypto still we are looking forward that there is a lot of countries will adopt this kind of payment so more on cashless we have right now. But still, we cannot remove the fiat currency because this is part of the trade of currencies.
I think it is no problem if Russia legalizes bitcoin and crypto because that can be a way to see the crypto used as the payment method. And if they don't allow crypto to be used for the payment method, they will allow it in the future because they will see the potential from the crypto that can solve the problem in the payment system. Besides that, we need to give them time to realize the benefit of the crypto as the payment system, so they know by themselves. Sooner or later, the government will allow their people to used crypto for the payment method.
I hope they see the potential of this immediately and this is one of the most adopting they ever do into the life of crypto still we are looking forward that there is a lot of countries will adopt this kind of payment so more on cashless we have right now. But still, we cannot remove the fiat currency because this is part of the trade of currencies.
August 03, 2020, 12:33:41 AM
Okay so months ago, we thought that they're all set to lay down the axe on Bitcoin and cryptocurrencies in Russia. But right now, lawmakers have passed a bill to legalize cryptocurrencies in their country.
However, there's one section of the bill states that Bitcoin cannot be used as payment method. They do legalize cryptocurrency trading though, but not sure when it comes to crowdfunding, ICOs, etc.
Source: https://cointelegraph.com/news/russian-lawmakers-finally-pass-countrys-major-crypto-bill
Any reactions so far guys?
However, there's one section of the bill states that Bitcoin cannot be used as payment method. They do legalize cryptocurrency trading though, but not sure when it comes to crowdfunding, ICOs, etc.
Source: https://cointelegraph.com/news/russian-lawmakers-finally-pass-countrys-major-crypto-bill
Any reactions so far guys?
Is this news really legit because i tried Google Searching it but i keep seeing things that looks like rumors because Russian government made announcement not too long ago that they won't be legalizing cryptocurrency. If at all the news is true, it is a success for the entire crypto community as the Russians will surely adds to overall crypto marketcap. About the section that says bitcoin can not be used for payment, i think that's russian government trying to protect it's citizens from the people that uses bitcoin for evil deads... I see a bright future here, a step at a time
August 03, 2020, 12:03:50 AM
I think it is no problem if Russia legalizes bitcoin and crypto because that can be a way to see the crypto used as the payment method. And if they don't allow crypto to be used for the payment method, they will allow it in the future because they will see the potential from the crypto that can solve the problem in the payment system. Besides that, we need to give them time to realize the benefit of the crypto as the payment system, so they know by themselves. Sooner or later, the government will allow their people to used crypto for the payment method.
August 03, 2020, 12:00:59 AM
Even if this news is true, I would expect further pressure on crypto later on. Russian gov is too tyrannical and corrupt to let such thing as crypto exist without choking it
Russian government only allows cryptocurrencies as a source of profit or mainly as a store of value, that's why they only allow trading than use it in many transactions.
As a payment method? No way. They will not use crytocurrency as a payment method because they know that it will really affect their economy and other businesses due to volatility of most of the coins. The authority allows the community to access cryptocurrency but it really have some limit and restrictions.
Very close with bitcoin become legal payment currency transaction in Russia, I think is near how people can use bitcoin and altcoin become payment currency there because after legal using as investment assets will have new way for Russia make bitcoin legal as payment way. Just waiting several month later we can see Russian is the first europe country legal using bitcoin and altcoin.
According to the source, Russian government do not allow bitcoin as a payment method so it is less likely to become adopted in that kind of activities. People will only use it as their assets in their investments but not making it as a tool for payment transactions. They are not even close to full bitcoin adoption as they are still unable to do other features of transactions using crypto. Hoping that Russian government allow its people to use cryptocurrency freely.
August 02, 2020, 10:49:44 PM
Fomer USSR power house at it again. Today they speak of ban, tomorrow it's debuked and this time they are bullishly pro bitcoin and cryptocurrency. Some politicians are just playing some game and nothing more. All is fine as regards cryptocurrency in Russia.
Big possibilities that there's power behind this act and for sure it's always for benefits that this government are trying to take this call.
Assuming that they are now accepting the use of bitcoin but there's no guarantee that they won't change it at any given time, knowing the nature of
this nation where change is inevitable.
Best thing to do is to keep the flow and play with how you understand this news, traders always looking for possibilities.
August 02, 2020, 10:42:08 PM
Very close with bitcoin become legal payment currency transaction in Russia, I think is near how people can use bitcoin and altcoin become payment currency there because after legal using as investment assets will have new way for Russia make bitcoin legal as payment way. Just waiting several month later we can see Russian is the first europe country legal using bitcoin and altcoin.
August 02, 2020, 08:48:49 PM
Even if this news is true, I would expect further pressure on crypto later on. Russian gov is too tyrannical and corrupt to let such thing as crypto exist without choking it
August 02, 2020, 09:02:10 AM
Did they really legalize bitcoin? I think it's just words and nothing more.
You're not exactly right.
Legalization means it is recognized by law. You can own it, report gains, trade it and report it as stolen to the police. It doesn't mean you can pay wit it in a store.
Russians have laws protecting their currency and I believe it's in their constitution that the Rubble can be the only legal tender. Their constitution isn't untouchable as Putin managed to prove over and over but for now there's no strong support behind cryptocurrency so they won't change the existing laws.
August 02, 2020, 08:37:06 AM
this is what is expected of a country where the president has been on power for years and his people are watching this horrible movie and they do nothing to change it. What I don't understand is because in the article it says something like:
"Russian Lawmakers Finally Pass Country’s Major Crypto Bill"
expected a different result from russia?
Duma is dominated by United Russia who also dominate everything, I ask again: did they expect different?
It is very difficult to discuss the laws of a country in which you do not live. Initially in Russia there were many negative projects at the legislative level. There have been proposals to completely ban cryptocurrencies and to criminalize their use."Russian Lawmakers Finally Pass Country’s Major Crypto Bill"
expected a different result from russia?
Duma is dominated by United Russia who also dominate everything, I ask again: did they expect different?
Over the past 3 years, a powerful shadow market has emerged in Russia. Ego participants did not even break the laws, because there were no laws
Cryptocurrency is not taxed in Russia, if a citizen received income after exchanging for fiat, he must pay tax.View cash exchange limits in Russia
74,4 rubles = 1 dollar
https://www.bestchange.ru/bitcoin-to-ruble-cash.html
August 01, 2020, 01:20:14 PM
There is one thing to keep in mind :
The Russian Government understood the fact that Bitcoins is going to stay here for a long time and if they keep doing this , ignoring the existence and banning it for the long run , at the end of the day they will be two steps backward from everyone else.
They understood the fact that even if they ban the entire cryptocurrency market people will overcome the ban and it is better to have some sort of control by the government and they can identify this as a alternative option during the trade wars.The Russian Government understood the fact that Bitcoins is going to stay here for a long time and if they keep doing this , ignoring the existence and banning it for the long run , at the end of the day they will be two steps backward from everyone else.
Therefore they legalised the cryptocurrencies. First they weren't even sure about legalizing it , give them time. Given the right opportunities I do think soon enough the people will privately try using Bitcoins as a payment and grow their business in the shadows and Government might display fine or even KYC .
Even the US was not sure how to handle the cryptocurrency market and that is the case with many government around the globe and it is a good concept that many of the countries could accept, not allowing them as a legal currency but an investment option that can be traded in legal exchanges.ICO's and startups needs a good platform this it's very essential that they try and think about the impact it will have on people , the opportunities they will get therefore let's wait and see how it turns out.
It will be and should be completely regulated and then we can get rid of the scammers. Jump to: