Is Russia moving towards accepting cryptocurrencies?

There's a new bitcoin exchange in Moscow. Reports say it's the only place in the city where you can buy and sell cryptos for cash. Lawyers mention that there's no law stopping this kind of operation, so it’s all above board. Even though the Russian government hasn't set any rules for cryptocurrencies yet, people are getting into it. This fresh bitcoin exchange just opened up near Kursky Vokzal, one of the main train stations in Moscow. Apparently, it’s the first of its kind in the city.

It should not be forgotten that a bill was introduced in the State Duma of Russia to establish criminal liability for any operations with a crypto currency. Supporters of this bill from the Ministry of Finance are motivated by their position that the Russian Constitution states that only the ruble is a legal tender in the territory of Russia. Therefore, everything else is illegal. In the same spirit, some websites are banned there, in which the problems of crypto currency are simply negotiated. Therefore, Russia is still far from the way of introducing crypto currency in its territory. Politicians and representatives of Russian authorities and management are so diametrically opposed to the possibility of introducing a crypto currency, which is so far impossible to form a single picture in this matter.

It seems to me that this news is directed only to the fact that Russian was not looking for opportunities to leave in the dark the Internet. Then from there do not get it. Putin will never allow Russians to use cryptocurrencies. This will weaken the ruble. Russia's economy may not stand it.

I am hoping that eventually Russia will be opening its doors to Bitcoin and cryptocurrency. Considering that there are now many Russians who are already into this new industry, let's cross our fingers that the government will consider this fact in formulating its final decision on this matter. Russia can be that big and important market that we should not lose.

To begin with I want to tell you that Russia is not a big market. This is a backward poor country whose main income is the profit from the hydrocarbon trade. The population of this country lives in poverty and therefore people can not invest a lot of money in cryptocurrency. They can not have a noticeable impact on the cryptocurrency market. Have you noticed a change after the legalization of bitcoin in Belarus?

In 2018, Russia may legalize the bitcoans and other types of cryptocurrency in order to combat illegal transactions, Russian Deputy Finance Minister Alexei Moiseev said in an interview with Bloomberg recently. Observers say that demand for electronic currency in Russia is already high, and they believe that a flexible approach is required to regulate the blockchain (the database system used to store the data structure continues to grow). In 2018, Russia may legalize the bitcoindan types of cryptocurrency (other electronic currencies) in order to combat illegal transactions

What do you think? I think this is more likely to happen but i guess they were just trying to measure the risk of having a crypto currency that is being legally used everywhere on their country. I don't how such a country support crypto currency when they already know that it do fluctuate due to some price manipulations.

It might eventually, but not any time soon. I think with the developments going on in Belarus, Russia will take its time to observe the situation there to find out what and how it will either contribute towards more economical growth, or potentially have negative economical consequences. If Russia at whatever point in time opens up completely to allow crypto to grow out to a powerful asset class, the entire market will benefit from the demand there. Russia isn't only a large country, but hosts also talent and an advanced tech industry. The only thing we have seen from Russia in the last year or two is them constantly moving back and forth with contradicting terms and statements. It's time for action now. People there are ready for it, and the rest of the economy as well....

yes it could be even mined bitcoin activity and digital currency in Russia has become a new trend. Mining miners are struggling to compete with major operations involving supercomputers, especially supercomputers from nuclear facilities. If this happens, it is likely that Russia will adopt Bitcoin.

I do not yet believe that under Putin's regime in Russia they will allow their citizens to freely use the crypto currency. Even Putin on this occasion expressed such contradictory views that his position regarding the crypto currency is difficult to understand. Until the appropriate law is passed in Russia, I will not believe it.

Yes, Russian country seems to be very interesting about accepting cryptocurrency as legal tender, might they will form new rules and regulation for ICO's and Bitcoin. This might help other countries to step move forward.

And from time to time if it can continue to lead to more positive things.. this could be the other country's spotlight or other countries' considerations in the acceptance decision will be to the crypto. Well anyway, the era has begun to lead to the things that are more lead to technologies advances, especially through into internet.

As I know Russia still didn't legalize or illegalize cryptos, and everything that is not forbidden - allowed. I do not know how long this exchangers will work. Maybe this event will move the government to final and official decision about crypto. I wander what terms of exchange those offices are offering, do they have more attractive prices than online exchanges? If someone have a site or a link for the name of the exchanger, please post it here for information

yes, Russia is planning Bitcoin legality, the goal is to treat crypto purchases regulated by law in the same way as buying bonds and other securities. The country has realized that digital currency is part of the new economic reality

Without passing any regulation it is not possible for us to regulate cryptocurrency in Russia. Previously Putin comments very well about the cryptocurrency, now, in the beginning, it is very tough to justify but governments will take actions towards regulation.

In Russia, the laws of the economy do not work. For this reason, there are no modern enterprises in this country. The economy of this country is fully supported by the trade in natural resources. Any business keeps only thanks to the corrupt officials and militiamen. Primitive technology kompensiruet low level of wages. Why would Putin allow the use of cryptocurrencies? He is not interested in creating conditions for wage growth.

Japan aside, among other world powers, I refer to the United States, the European Union, Russia and China, Russia seems to me ready to accept cryptocurrencies. For the United States, its fiat currency is an instrument of international success, for Europe its currency is an instrument of internal bureaucratic control, China is still almost dictatorial, so Russia is ahead.

Definitely yes, Russia is doing great and moving forward to meet crypto interests and progress

Waiting many other governments to follow this route if they can achieve it it will be a big boost for the investors and crypto lovers. Currently the market is getting more stagnant and not able to recover or cross 8k mark. It needs the boost so that price can move forward and we can cherish the old days too.

We cannot say if Russia is or is not in favor of legalizing the crypto currencies .That will remain a mystery until some government official makes some statement regarding its position in their country . The new exchange will not be determining this fact as people are allowed to make exchanges if there is no law against its making . The real thing will be identified when the exchange will be noticed by the government and when some action ( positive or negative) will be taken in its direction.