Nikolai Nikiforov stated:
"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."
The article goes on to say:
"However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However, he did not provide any context in which the technology might be utilized."Do you think we'll see other countries going down this route?
Source:
https://www.coindesk.com/russia-will-never-consider-bitcoin-legalization-says-minister/what he meant to say was "we did not find out about bitcoin and take it seriously until China is all in it. it would just be easier to make our own coin, fuck these sanctions"
and this is certainly for the best. a little considered vector of regulation is the current mountain of sanctions over Russia, courtesy of the US. If they were heavily involved with crypto, the US gov might restrict domestic users, to ensure that those sanctions arent subverted (bitcoin, with its hard to trace transactions is perfect for this).
i have concerns about regulation restricting US participation in Russian ICOs down the road.
Russia will have its own coin, and take control of its economy again. And I bet you the US will not take kindly to this attempt, given the current political climate.