Bitcoin And Russia Regulations – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

Bitcoin And Russia Regulations – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides



Russian authorities recently announced that they purpose to ban bitcoin (and cryptocurrencies), solely to later backtrack with the message that the trade goes to be strictly regulated as a substitute. Curiously, some distinguished Bitcoiners have cheered this improvement, specifically the supply of constructing bitcoin a recognised foreign money beneath Russian legislation. However as I’ll clarify on this piece, there may be nothing to cheer for within the proposed regulatory framework.

Surveil, Tax And Prosecute

There was some back-and-forth between the Central Financial institution of Russia, Ministry of Finance, and presidential workplace, the results of which is the most recent joint proposal for upcoming regulation (document in Russian language). The opposite doc that the next textual content relies on is that this Tass.ru article citing official sources (the Russian Central Financial institution and Ministry of Finance).

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