Crypto Now Legal In Russia - Although With Restrictions

[Goyaa 2414]

Cryptocurrency continues to grow throughout the world including Russia, although it prohibits payments using cryptocurrency, but in my opinion, legally cryptocurrency is quite a lot, because it is impossible for a country to allow other currencies to transact using other currencies. Cryptocurrency is recognized as a digital asset and investment is more than enough.

[Onden 2098]

This is good news for the crypto world, Russia is one country that has quite a lot of cryptocurrency users. The rules prohibiting the use of cryptocurrency as a means of payment are quite disappointing for us, as we can only trade and invest as assets. But we have to accept all the decisions and rules, I think this will make bitcoin value even more.

[khan22 3478]

Russia is a great and very strong country and they make great decision that they make legal the crypto market because the crypto amrket future is bright and it is going to be high so much becasue soon it is going to be legal in all over the world and this is the new currency of al the world.

[BrolySSJ 7899]

This is truly amazing news for those that are in Russia, and if i am not mistaken, even this forum is based in Russia. To be honest, i think that many governments are now being open to the idea of crypto and passing laws to regulate it as it is a way that governments can also benefit from the crypt world and its users, which is very important for financial and economic growth in all countries. I hope that this continues to take place in the future with more countries as it  has in Russia. 

 

I am curious though as to why there is no mining that was allowed in the laws and bills that have been passed in Russia. Why do you think this is so?

[Zalaks007 543]

Russian are really ahead when it comes to use of cryptocurrency and am sure the government wilm take a look at this law and do something good about it. Although it's a good news for cryptocurrency traders and lovers because they are eligible to make their trade but prohibited to make a purchase with it by 2021. Am sure it will affect most of them for now but they will eventually get use to it.

[Sykkuno 2887]

If the use of cryptocurrencies is prohibited but only trading and under strict regulations is allowed I don't think it is a very good first step then. It is mostly about reducing concerns from the voices that were against cryptocurrencies and does not help a lot with adoption.

[kryptonick 2659]

Alright. Next step is removing the barriers and allow cryptocurrencies to be used as they were supposed to. Hopefully miner incentives too and make Russia a powerhouse in Bitcoin mining, competitor to China and add some Billions of USD to the GDP.

[wassim19 645]

It is great news for Bitcoin and digital currencies in the country of Russia because now you can work and trade on cryptocurrencies naturally, and this is a wonderful decision and in favor of Crypto, as we wish more other countries to do the same step Russia so that everyone can use this field without fear

[annayks 2314]

This brings regulation clarity in Russia and helps the government and crypto projects operate under legal terms, but also not allows the use of crypto instead of the national money and it restricts it, making only usable as an investment. I think that for Bitcoin it will not make a lot of difference but maybe will not help other crypto.

[Mella 3680]

It is a grate moment for Russia to allow now crypto in the country. It is one of the best moment that gives to Bitcoin the legalize it deserve and it is respect the Bitcoin as an asset and the crypto as assets for investment. I am hope that there will be more and reduce the strict and make it allowed and remove all restrictions.

[Amiami 1362]

This is an interesting model, since it legalizes but does not approve some activities of cryptocurrencies, it is a type of strap or limiter, basically they allow savings in cryptos but they do not allow you to pay directly with them for any service, it is a measure to stimulate its economy  with btc transactions, etc.

[cryptovlek 2597]

I think that there will be some more changes as I've read that there will be increased amounts of crypto holdings needed to be declared in close to $10,000 and also persecution of not declared funds in Russia.

Last news I ahve read are this:

https://cryptopotato.com/russia-seeks-imprisonment-for-undeclared-bitcoin-and-cryptocurrency-transactions/

[Fixfin 2569]

Russia is restricting the use because the government want to support the fiat currency, but as all fiat it is another example of how this kind of money is not good for holding. I think that Russia takes good steps to bring adoption slowly and hopefully there will be better terms later as the cryptocurrency useage will keep increasing.

[Moontong 5312]

That is good news, allowing cryptocurrency in your country would be the best idea to do because it will benefit a lot of people but we should expect that it would take so much time before it happens, I am so grateful t hear hat itis already good in Russia but of course with restriction, it should be 100 good the way we used it in the crypto world. 

[Teminali69 1081]

Restrictions are a must, you see even if crypto is good and all, crypto is also one of the most dangerous inventions the world has ever seen, it has the power to turn this world into a west world.

[abohasnn9 2401]

My friend, this decision inside Russia is excellent despite the restrictions in place, but the restriction in question is also good because if the deal is like a payment inside the country in cryptocurrencies, it will cancel the national currency, but now Russia has developed its economy in a great and great way, and I hope that this matter will be transmitted to all countries around the world Thank you

[Nicole018 4548]

It is amazing to hear that countries like Russia have started to adopt cryptocurrencies as a medium of exchange. but what worries me is the control and authority they take over these cryptocurrencies by and forcing restrictions on them. In my opinion cryptocurrencies should not be under any control and it should be a free currency for the users.

[mohamedpc1 2213]

I cannot believe such news because Bitcoin is a currency of unknown origin and establishment, so it is difficult to trust Bitcoin from major countries, especially because it is considered a big decision and may cause a lot of uproar in the world, especially since Bitcoin is not subject to the laws of the global stock exchange in addition to the laws that allow countries to increase printed money

[tienda 8776]

It is important to get news like this about cryptocurrency. And when we see Russia adopting cryptocurrency for their system is good for Russian users and also for all cryptocurrency users. Because is possible the idea of adoption will expand to many others countries around the world. 

[pablomarwan 3082]

Attend the adoption of cryptocurrencies as a method of payment. This is another matter. The local currency must be adopted in order to avoid inflation or the deterioration of the country's economy. And since she agreed to trade and own the encrypted parameters, this is normal. She cannot force you to pay a tax or something like that.

[sinseoul 0]

Really good to hear that cryptocurrency will be legal on Russia. Maybe this caused the influx of Russian members here in the forum. We should expect that a lot more Russian will be joining the forum and maybe there will be more activities on the Russian section.

[Alsh9 1007]

Perhaps this step will be a driver for the rise in the prices of cryptocurrencies in the future and an important indicator for decisions that may be taken in the future, such as official currency in the world. This is really wonderful.

[Poppisnop 428]

I don't there was any restrictions base on mining of cryptos in russia, which is still under discussion which will determine a new rule That will be govern the investors.

[Zeshan7736087 287]

There is no problem in having some restrictions because every country to wants to personalize something's in this new system. But overall adoption of cryptocurrency by such a big economic nation of world is a great sign.

[Arratee877 272]

Nevertheless it's a great news to the fact that it is considered officially as a legal currencies, assets in the country. Probably in future another powerful government that has full interest in developing the economic sector of that nation in the phase of crypto currency may amend the law and therefore enacting and implementing the law for crypto transactions.