Startups Speak Out on Russia's Looming Bitcoin Ban
"We don't plan to close." Such is the resolve of BTC-e, the largest exchange for the Russian ruble, heading into spring 2015. The informal date has been on the minds of many in the bitcoin community since it was first billed as when Russia would ban bitcoin in August of last year. The most recent comments suggesting this probable future were issued by deputy finance minister Alexei Moiseev on 20th March. In new statements, the official in charge of coordinating Russia's financial policy doubled down on his past terse dialogue toward cryptocurrencies, stating that the action will take place....
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Earlier this month, Russia's Deputy Finance Minister Alexei Moiseev made a statement reminding that financial policy might be used to ban bitcoin and cryptocurrency trading. A bill has already been drafted late last year in order to prevent the issuance of bitcoin and to ban operations among bitcoin startups. According to the draft of the Russian government regulation issued in August, those who break the BTC ban are likely to end up in jail. The proposal also indicated that the only official currency in Russia is the ruble and that the introduction of other monetary units is forbidden.....
Various members of Switzerland’s parliament have proposed a motion to reduce the regulatory burdens of blockchain startups. This could be a significant more for the future of Bitcoin technology in the country. Regulatory guidelines burden startups active in the world of blockchain technology. Especially those companies who deal with financial....
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....
In contrast to some nations that have expressed openness for cryptocurrencies and have been home to several bitcoin websites, Russia has taken a hard-line defensive stance against this technological development. Just last year, the government decided to ban bitcoin activity and blocked access to several websites containing information about the cryptocurrency. In its announcement, the government specified that the only currency in Russia is the ruble and that those who participate in transactions using other currencies could face penalties. However, a recent court ruling may be able to....
If reports are to be believed, the Central Bank of Russia (CBR) might end up lifting the ban on Bitcoin, a multifaceted decentralized digital currency misread as a financial aid to the world's most notorious illegal activities. According to the Russian media outlet Izvestia, the central bank is scheduled to meet the representatives from the financial markets next week, where they will speak in length about the future of Bitcoin in Russia. There is a strong probability that the meeting will conclude with Russia lifting the ban on the digital currency use, for the government's perception....