Russia Rejects Crypto As Legal Tender, Finance Official Confirms
According to statements reported by Russian news agencies, Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, said cryptocurrencies “will never become money” in Russia and should be treated only as investment instruments. He said that where a payment is required, it must be made in Russian rubles. Related Reading: Ethereum Meets Wall Street: JPMorgan Rolls Out Tokenized Fund Ruble Remains Sole Payment Unit Based on reports, that stance matches existing law. A 2020 federal law on digital financial assets defines digital currency as something different from Russia’s....
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A Canadian government official has said bitcoin is not considered legal tender in the country, according to a report in the Wall Street Journal. "Only Canadian bank notes and coins are recognized as legal tender in Canada. Bitcoin digital 'currency' is not legal tender in Canada," the official reportedly wrote in an email. The official from the Department of Finance, who was not named in the article, went on to say the federal government and Canadian regulators would "continue to monitor developments involving virtual currencies" but would not say whether the government would officially....
Russian Ministry of Finance now “advises” using cryptocurrencies as legal tender? That sounds like an old story. Crypto journalists have reported that the Russian Ministry of Finance pushes for tokens to be treated as legal tender. However, there’s no evidence whatsoever to back up these claims. Related Readings | Russia To Legalize Crypto Payments, But Proposal […]
It is impossible to stop the Bitcoin movement, that much has become evident. Excluding Bitcoin from Russia would do more harm than good in the long run. Russia has always had an unusual relationship with Bitcoin and cryptocurrency. It has been unclear how the situation will evolve for quite some time now. A new statement by the Bank of Russia hints at no further action being taken against the usage of Bitcoin. Another positive sign for Bitcoin on a global scale, although this does not mean cryptocurrency is legal in Russia all of a sudden. People have to keep in mind this statement does....
As a result of this official document, there is no legal prohibition related to Bitcoin or other cryptocurrencies in Russia. The Bitcoin situation in Russia has taken yet another dramatic turn. But contrary to what most people may expect, this is some positive news for a change. A new document has been released by the government which goes to show Bitcoin is, in fact, legal in the country. Although this change had been rumored for quite some time, the document makes it all official. This particular document is living proof cryptocurrencies are considered legal in Russia. Or to be more....
There's been a whole lot of innovation in the world of bitcoin going on in Canada. Just this morning we reported of CoinTap's business coming to life in a Canadian pub. Wednesday, we reported that another bitcoin ATM in Canada would start operating in Ottawa Thursday. All through the the Canadian government has been relatively silent. Until now, that is. The Wall Street Journal is reporting that a government official in the country has said that bitcoin is not recognized as legal tender within their borders. "Only Canadian bank notes and coins are recognized as legal tender in Canada.....