Crypto Now Legal In Russia - Although With Restrictions

[kyoukage01 3181]

It looks like Russia's legal battle for cryptocurrency adoption is not over yet, with some trying to propose amendments aiming to add a few more restrictions despite its legal status while others must be trying to have the current restrictions removed or at least reduced. We can look forward to further news regarding this issue, which cannot be simply ignored as this can prove to be a useful case for other countries to ponder on.

 

You can check out this link for today's update into this topic:

https://cointelegraph.com/news/russian-ministry-proposes-to-amend-law-banning-crypto-transactions

 

[Omar Ommeish 4872]

This is good news for everyone who works in cryptocurrencies in Russia, and I think that the more countries that recognize cryptocurrencies, this will increase their popularity and increase their price.

[Sumayya 493]

That's is a good move so many countries doesn't even allow users to hold bitcoin or to trade it as they regard it as a risk factor actually. As time goes by I think they will allow the use of it as a payment service or they might even consider creating there own digital currency just like that of China

[malik6314193 5449]

It is not fully legal in Russia but many exchanges are working from Russia such as yobit. Russia is big country having large population will good effect if crypto become fully legal in country. 

[Irungu 4299]

I think those are welcomed news because when you have Russia Joinning in, this is really welcomed and it should never be struggled at any point its important to really define what you are doing perfectly , we need to work as hard and put together everything perfectly. Russia is usually at a danger of the western world trying to infiltrate. so it has to look everything with a keen eye, this includes USA and China.

[DiamondBit 720]

On 8/22/2020 at 7:19 AM, CryptoDemon said:

With the action of Russia, their financial system improvement is now secured because crypto currency can improve any country's financial system. I hope that there are other countries that will legalize crypto currency too.

But, normally, I do not think Crypto is yet legal in Russia, but every citizens of Russia are permitted to trade  crypto but if they lost their Crypto, no governmental body will help. But, normally, crypto experts can not just lost crypto because they know all what scammers can to which they have to avoid.

[Jaafar Fahad Hassan 114]

Wow , that a good development for Russia, am happy for this development ,I hope other countries adopt same law and make crypto legal too.

[Izeal 4404]

This is very good news for all the crypto traders and investors of the russia because it's hard to go against the nation and work against them. We can feel different freedom to work with nation. But we should follow their rules because there are even negative sides of the cryptocurrencies which can create bad impact.

[1qDan 478]

Lately many banks, organizations, etc., are trying to regularize themselves within cryptocurrencies, but this situation in Russia is complicated, they basically give permission to use cryptocurrencies but at the same time they twist the law to limit them as much as possible.

[Captain Karim 0]

I see that Russia is heading towards an integrated legislation for cryptocurrencies, and I agree with Putin not to use cryptocurrencies in exchange for commodities so that this does not affect the national currency, we also have a very strong Russian project in the field of blockchain, which is WAVES, since a while ago they were talking about building Forex Crypto decentralization is something new that no one has talked about previously.

[carlos291 76]

law in an article that the legislators of the chamber approved this Wednesday for the third discussion a bill in which bitcoin will be legal in their country, Russia is a country of power and a country that knows how to manage its economy well, that they legalize the cryptocurrency is excellent

[TimopheyKa 3900]

Yes, unfortunately, you can't make purchases using cryptocurrencies, but this is not so critical! And we can all realize a situation where we can use it without any problems.Still, it seems to me that the blockchain system will not reach Russia quickly, so we will have to wait for a long time!

[calongtong28 34]

Hope this will be an important new step forward for cryptocurrencies, this event, if successful, can bring a brighter future for us.

[Mike1515 2977]

I think Russia should have been the first one to make it legal because there are so many ways that one can be able to live in Russia and enjoy their rules and their laws are very dynamic and its such a friendly country though I do agree before you can allow crypto currency , one must be able to stand and say ,, I need to check some of the loops that we can lose in.

[Mwangi 5611]

Okay we need to really think of this as something good because most people dont understand what its all about to have such kind of a legality to crypto coins, the currency touch the very core of a countries economy and it would be really difficult to comeout of a problem one would find himself in when you cannot understand what to do when you are getting into the market in such way

[Maaz sultan 265]

This is a good action from the russian government they give permission of using these crypto currencies but with an action to tells the government about it its seems like a first step and after some time they go to higher position .

[percare 3192]

I don't think it is exactly legal. Maybe they just made it sound legal for some purposes but since they don't allow to use crypto then it is very restricted. I am only hoping this will change for the better.

[Syedbesharat 5423]

Making a proper channel for crypto is a great work from Russia where most of the countries doesn't accept it and ban it totally. They have given good start for people to have  trading and can use it foreign. But they need to register at government bank where they can law suit. Crypto will be start taking more space after some time and Russia will make new bill for crypto accessibility. 

[Irungu 4299]

Legalizing anything requires a lot of time and a lot of understanding to make sure that you dont lose yourself, you study the structure and how it can bring you a downfall so you need to be very careful before jumping into adoption that one must be very careful in that front .

[bogdanoff 3173]

Russia did the first step although we were hoping for something better. But this will begin in 2021 and it has two more months to see how exactly they plan to enforce this law. I hope it will not be some strict crack down of russian blockchain projects and crypto. 

[Viscount 1357]

Even though there are restrictions, I'm still happy that cryptocurrency is now legal in Russia. I think this is forum is actually from Russia and I could only imagine the happiness of members of the forum from that country! Wish that more countries will make cryptocurrency legal on their country.

[Martin2525 97]

Hello friends, in my view it is good news at some point but there is still a long way to go to be fair and federal, that is, does it include everyone? I wonder where the common people are in all this, since what this law does is centralize the use of cryptocurrencies in entities that they can manage. I wonder and all those who thought of starting a business and accepting payments with cryptocurrencies as is happening in other parts of the world, where are all those people. For me, this law is one step forward and two steps back.
But hey that they have accepted it as an investment asset is something.

[Shaza Ahmad 1682]

I see that what Putin did was right, he regulated cryptocurrencies in Russia and opened the door to investment for cryptocurrencies, and that would give additional income to the government through taxes paid by investors and would lead to a move away from the black market to deal in cryptocurrencies because there is no need for that. Any longer and at the same time not using cryptocurrencies for goods and services will not affect the Russian national currency.

[Mosab73 333]

This is a big step forward by the Russian government, but it remains incomplete because the restrictions in the new law prohibit the use of cryptocurrency as a means of payment for goods, services and facilities. I hope in the near future the new law will be more flexible.

[decemberends 1881]

Thats quite the change there although payments wouldn't work inside the country you can still do your work as usual although just have to find other ways to get your profits from not sure from other countries i guess? although that might be tricky thats still worth it.