Post
Topic
Board Bitcoin Discussion
Re: Russian Minister States Cryptocurrencies Will Not Be Legally Recognized in Russi
by
HeRetiK
on 21/11/2017, 20:30:10 UTC
[...]

“bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation. However, I think that it is quite possible to use blockchain technology and the use of various digital tokens.”

[...]

Translation: "We missed the train with Bitcoin, but we see that there is money to be made, so we want in."

On a more serious note, it will be interesting to see how Russia will handle Bitcoin. Sooner or later they will need to provide a regulatory framework for their citizens, regardless of whether they "legally recognize" Bitcoin or not. At which point it will be merely a semantic question if and how they recognize cryptocurrencies.