Russia Calls for Celebration as Bitcoin Becomes Legal
A couple of weeks ago, Russian authorities announced that Bitcoin use was legitimate in the eyes of the law. With a population of 146 mln people, Russia is an important market for Bitcoin and other digital currencies. Cointelegraph spoke to Jake Smith of Bitcoin.com to find out if the new development calls for a celebration. Giving Bitcoin the green light. Cointelegraph: Russian authorities just endorsed the use of Bitcoin as legal. What is your reaction? Jake Smith: Over the years we've heard countless rumors about some country or another first banning Bitcoin, then clarifying that they....
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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....
The Russian prime minister has outlined the government’s plans to amend existing laws to recognize cryptocurrency as property. This means bitcoin owners will have the legal rights to defend and recoup their cryptocurrencies in court. Russia to Recognize Bitcoin as Property During the government meeting on Thursday, Russian Prime Minister Mikhail Mishustin talked about Russia’s plans for cryptocurrency regulation alongside other initiatives to fight against the spread of the coronavirus pandemic. After outlining several solutions the Russian government has come up with,....
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....
The Ministry of Economic Development of Russia has suggested that crypto mining should be allowed in energy-rich regions and miners provided with access to inexpensive electricity. The department has joined calls to legalize the industry and utilize Russia’s strengths as a mining destination. Crypto Miners Should Have Access to Cheaper Power, Economy Ministry Says Amid ongoing discussions on the future of cryptocurrencies in Russia, the country’s Ministry of Economic Development has proposed permitting the minting of digital currencies in regions with a surplus of....
Phemex & Banxa: Partners That Pack a Punch With Russia Day around the corner, crypto exchange Phemex and global fiat payment partner Banxa are looking to give crypto purchases a new way to celebrate. The global holiday that has been a long-time celebration for citizens of the Russian Federation is on June 12th. To celebrate, […]