Russian Political Party Proposes to Legalize Bitcoin
Titov Boris, the Presidential Commissioner for Entrepreneurs’ Rights in Russia and the Leader of Right Cause party, is trying to lead the Party of Growth to create clear and transparent legal regime and regulations for cryptocurrencies including Bitcoin. The Party of Growth, which represents liberal free market economy and democracy, believes that the Bitcoin blockchain technology is developing rapidly around the world, including Russia. The party proposes to legalize Bitcoin mining and officially recognize Bitcoin property rights. During an interview with TASS, a Russian news agency which....
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Boris Titov, the leader of Russia’s Party of Growth, called for the country to legalize cryptocurrencies like bitcoin and become a leader in blockchain development, according to Tass, a Russian news agency. Speaking at a press conference, Titov also said Russia can take advantage of its difficult economic situation to embrace blockchain technology as a way to become a very profitable country. The Path To Progress. The first step is to create a transparent legal system for the cryptocurrency. Titov said the country should create opportunities for foreign investors to invest in bitcoin by....
Reports from Russia indicate a minor political party is moving to accept bitcoin donations. The Party of Growth, a center-right party formed in 2009 under the name Just Cause, is reportedly looking to begin accepting donations in the digital currency. The move is notable given the Russian government's complicated and long-controversial stance on digital currencies like bitcoin. News of the donation drive comes in light of reports from Interfax and TASS that cover remarks from Boris Titov, the head of the Party of Growth and an advisor to Russian President Vladimir Putin on business and....
Russia wants to provide regulatory clarity for the industry and gather a cut from the miner's profits by operating there.
The industry organization of Russian energy suppliers has come up with ideas on how to combat cryptocurrency mining in homes, basements and garages. The association believes the phenomenon is the main issue with mining in Russia as authorities prepare to legalize it.
Suppliers Move Against Mining With Cheap Electricity
The Russian association of energy suppliers and power utilities has prepared proposals to curb amateur crypto mining with subsidized household electricity, which has become a popular income source for many Russians. A letter listing its recommendations has been....
Nearly a week after the proposal of Party of Growth—a political party in Russia which represents the liberal free market economy—to legalize bitcoin, the Russian Ministry of Finance and the country’s lawmakers are set to treat cryptocurrencies including bitcoin as a foreign currency. Deputy Finance Minister Alexei Moiseev, who featured in an interview hosted by the Russian Newspaper, stated that while cryptocurrency-based business operations are still illegal in Russia, the Ministry of Finance is currently developing a set of regulations to enable purchasing and selling of Bitcoin. Moiseev....