Russia to Criminalize Bitcoin Use.. - page 3.

jseverson

hero member

Activity: 1834

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Quote from: First77 on March 09, 2018, 09:02:16 AM

Separately, the Russian Ministry of Finance plans to introduce a law that will criminalize the use of cryptocurrencies as money substitutes.

You left out the most important detail on your title.

Whether you want to take Russia seriously or not, you have to recognize that plenty of other countries have already taken the same stance (Vietnam, Indonesia, etc.), and none of them has had a substantial effect. With Russia's trading volume, I expect it to be more of the same. The thing is, not too many businesses are willing to accept crypto anyway so it's not a big deal yet.

Pursuer

legendary

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Where is my ring of blades...

as I have been saying for the past two years, until there is actually a law in Russia regarding bitcoin and its usage and other cryptocurrencies, everything you hear in the news regarding Russian stance is a total bullshit and must be ignored.

for years the news has been saying similar and at times contradictory things regarding bitcoin. you can find articles saying Russia is banning bitcoin and articles saying Russia has no problem with bitcoin at the same time and to this day no law has been set for bitcoin... and talk is cheap!

Jating

hero member

Activity: 2842

Merit: 772

Nothing surprises me here because I always think that bitcoin will not be recognized in Russia. One sign that I really doubt is that they kept on contradicting themselves.

And then Putin, has already the crypto-rubble, so it means Russia has its own crypto and wouldn't even bother to even accept Ethereum, which we all know that Vitalik is very close to Putin.

And now this news. Of course the one that will be severely affected is the Russian Crypto Community. They need to be very careful because we all know how authoritarian this regime is.

avikz

legendary

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Quote from: First77 on March 09, 2018, 09:02:16 AM

Russian president Vladimir Putin is a bitcoin skeptic who wants cryptocurrency regulations in place “by July 1," according to the official government publication Parlamentskaya Gazeta.The regulations are part of the Digital Assets Regulation Bill, which is expected to set guidelines for cryptocurrency use in Russia.

Separately, the Russian Ministry of Finance plans to introduce a law that will criminalize the use of cryptocurrencies as money substitutes.Elvira Nabiullina, head of the Bank of Russia, said she and the Russian Finance Ministry oppose the use of virtual currencies "as private money and money surrogates,” saying only the ruble can be used to pay for goods and services, Bitcoin.com reported. "There is the ruble, and everything else is a surrogate," she said. Nabiullina said the move to criminalize the use of bitcoin and other digital currencies as money substitutes is to protect the Russian ruble. "This is necessary to protect the ruble as the single legal [means of] payment in Russia," she said.

https://www.investopedia.com/news

I don't know how many times they will legalize and then criminalize Cryptocurrency!! Russian finance authority seems confused about their actions and unable to come up with a proper legislation from some time now.

But whatever happens, it will just be another exit from a communist nation like China who believes in strong centralization of power. A temporary impact will be there but nothing for long term

blx18

newbie

Activity: 48

Merit: 0

Governments are obviously afraid of bitcoin and would prefer a national cryptocurrency they can control. It is known the Rusian central bank is against it saying it is used for money laundering. As long as some government does not declare you can also pay taxes in crypto the fate will be uncertain.

First77

member

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Bitcoin falling.....

Vatimins

sr. member

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Blue0x.com

This is just so freaking confusing. they are just confusing people and saying all sorts of stuff when all they are gonna do is get rid of the chances that it will be used by their people. They really aren't doing anything to help legalize bitcoins. What they are doing is making people think that they are trying but at the end of the day, they will still ban it for personal reasons and agendas. Although They say that they are just protecting their countrymen and their national currency, I still can't get myself to buy that shit.

trumper

full member

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I ignore all the news coming from russia and china, that is also beneficial for you if you trade coins. Only news people should take care of it are the ones from usa. Everyone knows it.

First77

member

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Merit: 32

Quote from: steemium on March 09, 2018, 01:33:35 PM

If so, we (cryptocurrency community) should criminalize Russia and Putin!
Some day his evil regime will fall and prison of nations will collapse!

Try it

steemium

jr. member

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If so, we (cryptocurrency community) should criminalize Russia and Putin!
Some day his evil regime will fall and prison of nations will collapse!

mahilchii

member

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Merit: 13

Hey, your comments and the second post is confusing. Putin wants crypto currency but not as a currency? Then what bill they are planning to bring, is that a crypto ban bill? I think the news is not completely posted here or complete with information not shared here. Need to have more information on this, then only we can come to a conclusion on Russia stand on crypto currency.

stompix

legendary

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Blackjack.fun

Quote from: Kprawn on March 09, 2018, 09:40:23 AM

So, you can trade it as a commodity, but you cannot use it as a currency? These governments need to make up their bloody mind, especially Russia. We have seen a jump from the one extreme to the next with the Russian governments
announcements. The one moment Putin is talking with Vitalik and the next thing you hear that they want to ban it as a
currency. All this to protect a fiat currency that are worth @#$%%. Roll Eyes

It's simple, you just have to ignore whatever comes from Russia.
They are having their private race in BTC related misinformation with China and they are eager to win.

I've probably seen bitcoin approved about a thousand times, banned the same amount, not to mention the other hundred projects of crypto related activities that never materialized.

Quote from: Irvinn on March 09, 2018, 09:34:03 AM

At me, the truth, the question arose: who there controls Russia - Putin or any Nabiullina?

Serious? Is that even a question? Grin

Quote from: Irvinn on March 09, 2018, 09:34:03 AM

Apparently, the regulation will be approximately the same - step to the right, step to the left, shooting on the spot. What has been done with Russia in recent years? There is a general concentration camp.

Regulation in Russia will be like traffic tickets, nobody will give a damn about them.
You hit a pedestrian and you are fined 30$.

First77

member

Activity: 266

Merit: 32

Quote from: Kprawn on March 09, 2018, 09:40:23 AM

So, you can trade it as a commodity, but you cannot use it as a currency? These governments need to make up their bloody

Bad days for bitcoin

Kprawn

legendary

Activity: 1904

Merit: 1074

So, you can trade it as a commodity, but you cannot use it as a currency? These governments need to make up their bloody

mind, especially Russia. We have seen a jump from the one extreme to the next with the Russian governments

announcements. The one moment Putin is talking with Vitalik and the next thing you hear that they want to ban it as a

currency. All this to protect a fiat currency that are worth @#$%%. Roll Eyes

Irvinn

full member

Activity: 966

Merit: 104

Also what here it is possible to tell still? At me, the truth, the question arose: who there controls Russia - Putin or any Nabiullina? One thing is clear: in Russia everything is very bad with the crypto currency. Apparently, the regulation will be approximately the same - step to the right, step to the left, shooting on the spot. What has been done with Russia in recent years? There is a general concentration camp.

First77

member

Activity: 266

Merit: 32

Russian president Vladimir Putin is a bitcoin skeptic who wants cryptocurrency regulations in place “by July 1," according to the official government publication Parlamentskaya Gazeta.The regulations are part of the Digital Assets Regulation Bill, which is expected to set guidelines for cryptocurrency use in Russia.

Separately, the Russian Ministry of Finance plans to introduce a law that will criminalize the use of cryptocurrencies as money substitutes.Elvira Nabiullina, head of the Bank of Russia, said she and the Russian Finance Ministry oppose the use of virtual currencies "as private money and money surrogates,” saying only the ruble can be used to pay for goods and services, Bitcoin.com reported. "There is the ruble, and everything else is a surrogate," she said. Nabiullina said the move to criminalize the use of bitcoin and other digital currencies as money substitutes is to protect the Russian ruble. "This is necessary to protect the ruble as the single legal [means of] payment in Russia," she said.

https://www.investopedia.com/news

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