Post
Topic
Board Bitcoin Discussion
Re: Russia Set to Legalize Bitcoin by 2018, Track Every Transaction
by
Juggy777
on 12/04/2017, 04:43:26 UTC
Only a year ago Russia’s Finance Ministry was threatening jail time to anyone using digital currencies.

In a major U-turn, it’s 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.

I truly agree with op words whether we all should be happy that Russia is finally accepting Bitcoins, but then at what cost you are killing the freedom and that I feel is very bad. No more tax savings, no more annoyous and worst of all Decentralisation gone. One theory of mine suggests is that Russia economy is going down, by putting a tax on Bitcoins they shall be able to get a whole new revenue and shall save their own money. I do hope this does not becomes a reality, cause then USA and all major countries shall follow suit.