Post
Topic
Board Bitcoin Discussion
Re: Russia and central Bank agreed to legalize cryptocurrency as a form of currency
by
Finestream
on 10/02/2022, 20:36:48 UTC
I read the news carefully and I think this is still a proposal that the government may or may not approve in the near future. I would prefer countries to regulate bitcoin if they don't legalize it as a legal currency. Much more profitable for the government than having to ban it.

This news has made bitcoin fundamentals stronger which we expect will see a rise in price. Obviously not everyone in Russia likes bitcoin even within the government itself, but their desire to legalize some of bitcoin's functions should be rewarded rather than banned. The government will benefit from this legalization, but I think it's still a matter of time.
The central bank of Russia has discovered that crypto is good for their country, so instead of banning it, why not legalize it so they can also benefit from it. This made a sudden shift from being banned, and now making a proposal to accept it as a currency. This will be another El Salvador i think. The citizens will not favor bitcoin, but if the government will insists, they can do nothing but learn to study and accept it. I know once the proposal is approved, this will bring a huge impact on the crypto market that will make all the crypto prices increased again.