Re: Russia Set to Legalize Bitcoin by 2018, Track Every Transaction
Only a year ago Russias Finance Ministry was threatening jail time to anyone using digital currencies.
In a major U-turn, its now edging closer to their acceptance as a legitimate financial instrument to open a new line of attack on money laundering.
The authorities hope to recognize bitcoin and other cryptocurrencies in 2018 as they seek to enforce rules against illegal transfers, Deputy Finance Minister Alexey Moiseev said in an interview. The central bank is developing a joint position together with the government on digital currencies, according to its press service.
https://www.bloomberg.com/news/articles/2017-04-10/russia-caves-in-on-bitcoin-to-open-new-front-on-money-laundering
I'm not sure If I should be happy or sad since they are planning to Legalize bitcoin but in the same time, tracking transactions. I'm not entirely sure on how they plan to do it though and how It could be possible unless they are planning to run their own exchanges. I believe that Russians will need TumbleBit whenever this will happen.
In a major U-turn, its now edging closer to their acceptance as a legitimate financial instrument to open a new line of attack on money laundering.
The authorities hope to recognize bitcoin and other cryptocurrencies in 2018 as they seek to enforce rules against illegal transfers, Deputy Finance Minister Alexey Moiseev said in an interview. The central bank is developing a joint position together with the government on digital currencies, according to its press service.
https://www.bloomberg.com/news/articles/2017-04-10/russia-caves-in-on-bitcoin-to-open-new-front-on-money-laundering
I'm not sure If I should be happy or sad since they are planning to Legalize bitcoin but in the same time, tracking transactions. I'm not entirely sure on how they plan to do it though and how It could be possible unless they are planning to run their own exchanges. I believe that Russians will need TumbleBit whenever this will happen.
Lol, I wish governments can stop doing this kind of shit to bitcoin.
Like come on, you realise that bitcoin is actually a legit currency and now you hate it because it'll wreck your entire economy if everyone leaves the fiat debt cycle to join bitcoin. So you monitor every transaction? Oh wait, anyone can monitor every transaction on the blockchain. What matters is whether you are able to link that particular transaction to a purpose, which is so difficult to do even if you're a highly experienced bitcoiner, and will probably cost you a shit ton
Go ahead Russia. I don't give a shit honestly.